MONTREAL – In-building wireless network designer iBwave Solutions Inc. has been acquired by Corning Inc., the companies said Wednesday. The terms of the deal were not released.
Based in Montreal, iBwave’s software and professional services are used by more than 600 global telecom operators, system integrators and equipment manufacturers in more than 80 countries worldwide. A leader in materials science, Corning applies its expertise in specialty glass, ceramics, and optical physics to develop products for industries that include consumer electronics, telecommunications, transportation, and life sciences.
Going forward, iBwave will be a wholly-owned subsidiary of Corning, reporting to Corning's Optical Communications business segment. iBwave will operate under its current name, iBwave Solutions, Inc., as a separate entity.
"We are thrilled to become part of the Corning family," said iBwave president and CEO Mario Bouchard, in the news release. "With this new ownership, we are gaining the ability to grow faster and deliver more innovations to our customers."
"We welcome iBwave and its employees to Corning," added Corning Optical Communications EVP Clark Kinlin. "We are enthusiastic about the opportunities iBwave provides for wireless growth around the world."
