CommScope Holding Company Inc.

10/28/2020 | Press release | Distributed by Public on 10/28/2020 05:06

Corning and CommScope Collaborate to Deliver Optical Connectivity Solutions

Corning Optical Communications LLC, a subsidiary of Corning Incorporated (NYSE:GLW), and CommScope Technologies LLC, a subsidiary of CommScope Holding Company, Inc. (NASDAQ:COMM), are entering into a new technical collaboration to provide a wide range of optical connectivity solutions for high-density data center and central office applications. The collaboration creates broader availability of innovative optical connectivity solutions designed to accommodate both density and accessibility for system operators worldwide.

The collaboration includes licenses to each company's substantial patent portfolios relating to high-density fiber connectivity solutions for data centers and central offices. The global agreement will enable customers to build data centers faster to keep up with the explosion in data and evolving compute demand.

CLICK TO TWEET:Corning and CommScope collaborate to deliver optical connectivity solutions.

'This technical collaboration recognizes the value of intellectual property covering innovative connectivity technology,' said Kevin Parker, senior vice president and general manager, Corning Optical Connectivity Solutions. 'It also expands our commitment to the industry as our customers build advanced networks to stay ahead of the requirements for high-density applications.'

'CommScope is pleased to have reached an agreement on value-adding technology for what is expected to be a mutually beneficial collaboration with the Corning team on this important technology,' said Morgan Kurk, executive vice president and chief technology officer, CommScope. 'We expect the drivers enabling the growth of this technology to continue into the future, as the demand for bandwidth, cloud computing, and the number of devices connected to the internet continue to experience high growth.'

Caution Concerning Forward-Looking Statements

The statements contained in this release that are not historical facts or information and contain words such as 'will,' 'believe,' 'anticipate,' 'expect,' 'intend,' 'plan,' 'seek,' 'see,' 'would,' and 'target' and similar expressions are forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain. These estimates are subject to change and uncertainty which are, in many instances, beyond our control. There can be no assurance that future developments will be in accordance with management's expectations. Actual results could differ materially from those expected by us, depending on the outcome of various factors. We do not undertake to update forward-looking statements.

Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements include, but are not limited to: the effects of acquisitions, dispositions and other similar transactions, global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, euro, Chinese yuan and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; the impacts of audits by taxing authorities; and the potential impact of legislation, government regulations, and other government action and investigations.

For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q.

Web Disclosure

In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated ('Corning') wishes to notify investors, media, and other interested parties that it uses its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors, or supplemental to information contained in this or other press releases. The list of websites and social media channels that the company uses may be updated on Corning's media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company's SEC filings, press releases, conference calls, and webcasts.

About Corning Incorporated

Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include mobile consumer electronics, optical communications, automotive technologies, life sciences technologies, and display technologies.

AboutCommScope Holding Company, Inc.

CommScope (NASDAQ: COMM) is pushing the boundaries of technology to create the world's most advanced wired and wireless networks. Our global team of employees, innovators and technologists empower customers to anticipate what's next and invent what's possible. Discover more at www.commscope.com.

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Media Relations Contacts:

Corning

John Arwood

(828) 320-3249

[email protected]

Gabrielle Bailey

(607) 684-4557

[email protected]

CommScope

Kris Kozamchak

+1 972-792-3311

[email protected]

Investor Relations Contact:

Corning

Ann H.S. Nicholson

(607) 974-6716

[email protected]

CommScope

Kevin Powers

+1-828-323-4970