Airspan Networks has announced a deal to acquire Corning's wireless business.
The deal will see Airspan snap up Corning's 6000 and 6200 distributed antenna systems (DAS) and its SpiderCloud 4G and 5G small cell RAN products.
Financial terms of the transaction were not disclosed.
The company touted the potential of DAS and small cells for their importance in providing wireless connectivity inside buildings.
Airspan appears to be banking on the buildout of 5G, noting that it expects mobile operators, venue owners, and enterprises to step up their investment to provide improved 5G service indoors.
“This acquisition is a strategic step for Airspan, reinforcing our leadership in in-building connectivity and expanding our ability to serve enterprises and mobile network operators,” said Glenn Laxdal, president and CEO of Airspan.
“As we integrate this business, our focus is on delivering a smooth transition for our customers while unlocking new opportunities for innovation.”
Airspan said it expects the deal to close during the first quarter of this year.
Corning's wireless business has more than 10,000 installations, plus strong partnerships with major mobile operators, public venues, and enterprise customers.
To date, Airspan claims to have shipped more than one million radios globally to more than 1,000 customers.
The company filed for Chapter 11 protection in April, returning to a private business.
Airspan noted at the time that it plans to trade its more than $205 million in funded debt for equity and raise up to $95 million in new equity financing.
Florida-based Airspan was originally a product division of DSC Communications but broke away in the late 1990s.
However, since going public in 2021, the company has struggled and cut its workforce from 800 to around 370.
The company was listed on the NYSE in 2021 after a SPAC merger with New Beginnings Acquisition Corp. Today, the company provides Open RAN solutions, including 4G and 5G indoor and outdoor products, as well as point-to-point fixed wireless offerings.
In 2023, the company sold its telecoms equipment maker Mimosa Networks to Radisys Corp, a unit of Jio Platforms, for $60 million.
