By Joey Gardiner, 16 February 2000 14:25
NEWS Fibre optic specialist, Corning, is to buy optical filter manufacturer, NetOptix, for $2bn. The stock-for-stock deal extends Corning's acquisitions strategy in the fibre optics market. Corning has also signed a deal with Samsung to form a joint venture called Samsung Corning Micro Optics to sell Dense Wavelength Division Multiplexing (DWDM) components, used in fibre optic networks. Corning said NetOptix's technology will let it increase its production of DWDM components. Roger Ackerman, CEO of Corning, said demand for optical networking equipment was expanding at a phenomenal rate. He predicted the market for DWDM technology alone is set to double in size over the next year. The deal, which is subject to regulatory and shareholder approval, will see each NetOptix share exchanged for 0.9 of a Corning share.
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