Airspan to acquire Corning’s wireless business

BOCA RATON, Fla. - Airspan Networks Holdings LLC, a prominent wireless network solutions provider, has announced a definitive agreement to acquire the wireless business unit of Corning Incorporated (NYSE:GLW), a $44.18 billion market cap company currently trading above its InvestingPro Fair Value. This acquisition, pending regulatory approval, is expected to be finalized in the first quarter of 2025.[Get detailed insights into Corning’s financials and 10+ additional ProTips with InvestingPro, your comprehensive investment research platform.]

Corning’s wireless segment comprises its 6000 and 6200 distributed antenna systems (DAS) and its SpiderCloud 4G and 5G small cell radio access network (RAN) products. The integration of these technologies with Airspan’s existing small cells aims to create a leading in-building wireless solution on the market. As an InvestingPro analysis reveals, Corning has demonstrated strong market presence as a prominent player in the Electronic Equipment industry, with annual revenue reaching $13.12 billion.

The move comes as a strategic enhancement for Airspan, aiming to solidify its position as a key player in the in-building connectivity sector. The company anticipates a surge in demand for indoor 5G services as the deployment of outdoor 5G networks nears completion. With over 70% of mobile data usage occurring indoors, the challenge has been to provide reliable service inside buildings, a problem that Airspan expects to address with this acquisition.

The acquired business includes a well-respected product lineup with more than 10,000 installations, established relationships with major mobile operators and customers, a seasoned team, and an extensive patent portfolio developed over 15 years.

Glenn Laxdal, President and CEO of Airspan, commented on the acquisition, emphasizing the company’s commitment to maintaining business continuity for customers and partners while also exploring new opportunities for innovation.

Airspan, known for its expertise in Open RAN and carrier-grade wireless network design, has delivered over 1 million radios worldwide to more than 1,000 clients. The company’s solutions cater to various sectors, including Macro (BCBA:BMAm) Open RUs, in-building coverage, Critical Infrastructure, Fixed Wireless Access, Defense, and Air-To-Ground networks.

This transaction is based on a press release statement and further details about the terms of the deal were not disclosed. Corning’s stock has shown remarkable performance, delivering a 67.91% return over the past year, reflecting investor confidence in the company’s strategic decisions.[Access comprehensive valuation metrics and professional-grade analysis with InvestingPro’s detailed Research Reports, available for 1,400+ top US stocks including Corning.]

In other recent news, Corning Incorporated reported its fourth-quarter 2024 earnings, highlighting a positive performance despite missing revenue expectations. The company achieved an earnings per share (EPS) of $0.57, slightly surpassing the forecast of $0.56, while revenue came in at $3.5 billion, falling short of the anticipated $3.75 billion. Corning’s full-year sales reached $14.5 billion, marking a 7% increase from the previous year. The optical communications segment was a significant contributor to this growth, showing robust demand and new product launches. In addition to its earnings report, Corning declared a quarterly dividend of $0.28 per share, set to be paid on March 28, 2025. This reflects the company’s ongoing commitment to returning capital to shareholders. Corning’s strategic focus remains on enhancing operational efficiency and expanding its market presence, with expectations of continued growth in 2025. The company plans to update its SpringBoard strategy in March 2025, aiming for substantial sales growth by the end of 2026.

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