Corning Incorporated (NYSE: GLW) announced Wednesday it has acquired SpiderCloud Wireless Inc., a leading provider of in-building wireless solutions. Terms of the agreement were not disclosed.
SpiderCloud, based in Milpitas, California, develops scalable small-cell network platforms that deliver unprecedented coverage and capacity for wireless services inside buildings. Small cells are deployed by mobile operators and enterprises to optimize network efficiency and improve user experience.
The acquisition of SpiderCloud’s innovative solutions and the company’s position as a preferred provider to key wireless customers create unique market access opportunities for Corning. SpiderCloud will become part of the Corning Optical Communications segment, and aligns with the business’ strategy of growing annual sales from $3 billion in 2016 to $5 billion in 2020 through innovation and acquisitions.
“Wireless connectivity has become more a necessity than an amenity, and mobile operators and enterprise customers are seeking cost-effective solutions to enhance service for their users inside buildings,” said Clark S. Kinlin, executive vice president, Corning Optical Communications. “With the acquisition of SpiderCloud Wireless, we believe our combined product solutions will help drive optical convergence and enable the advantages of fiber-deep architectures within the Enterprise Local Area Network.”
“We are excited to become part of Corning, an innovative, technology-driven company that continually leads the way in the telecommunications industry,” said SpiderCloud Wireless CEO Mike Gallagher. “Together we will continue to focus on expanding SpiderCloud’s customer relationships and augmenting our pioneering portfolio by leveraging the combined strength of two world-class product development teams.”
