Corning has completed the acquisition of SpiderCloud Wireless, a prominent provider of in-building wireless solutions.
SpiderCloud will become part of Corning’s Optical Communications segment. Its expertise in scalable small-cell network platforms will be integrated to enhance coverage and capacity for wireless services, improve network efficiency, and deliver a better user experience inside buildings. The acquisition supports Corning’s broader strategy to expand market access and drive growth through innovation and targeted acquisitions, a plan that aims to grow annual sales from $3 billion in 2016 toward $5 billion by 2020.
Clark S. Kinlin, executive vice president of Corning Optical Communications, said: “Wireless connectivity is increasingly essential, and mobile operators and enterprise customers are seeking cost-effective ways to improve indoor service. By bringing SpiderCloud Wireless into Corning, we expect our combined solutions to accelerate optical convergence and advance fiber-deep architectures within enterprise local area networks.”
SpiderCloud Wireless CEO Mike Gallagher commented: “Together, we will continue to expand SpiderCloud’s customer relationships and strengthen our pioneering product portfolio by leveraging the combined capabilities of two world-class development teams.”
Industry analysis from Zacks noted that adding SpiderCloud to Corning’s portfolio positions the company to move more quickly into the wireless network equipment market. Zacks highlighted that strategic acquisitions—including SpiderCloud, Gerresheimer’s Pharmaceutical Glass Tubing Business, Alliance Fiber Optic Products, and STRAN Technologies—could drive meaningful growth. Over the same period referenced, Corning’s stock returned 32.2%, compared with a 12.1% gain for the broader index.