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Corning pays $1.8 billion in stock for fibre-optics equipment maker

Fibre-optic cable maker Corning said it will pay US$ 1.8 billion in stock for Oak Industries, maker of fibre-optic equipment, further consolidating the ultra-high-speed communications market.
New Yo…

Fibre-optic cable maker Corning said it will pay US$ 1.8 billion in stock for Oak Industries, maker of fibre-optic equipment, further consolidating the ultra-high-speed communications market. New York-based Corning said the boards have approved the share swap with Waltham, Massachusetts-based Oak. The deal allows Corning to provide both cables and the equipment linking them to computers and other equipment. Glass fibre-optic cables carry voice and data far quicker than copper wire or copper cables, and are in heavy demand for high-speed Internet communications to both businesses and homes.

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