Corning (NYSE: GLW) has recently announced an agreement with 3M to fully acquire 3M's communications marketing department with a cash transaction of about 900 million dollars. The acquisition will end in 2018, depending on customer settlement conditions and regulatory approvals.

Through this acquisition, Corning Optical Communications will add about 400 million U.S. dollars in high bandwidth and optical product sales for the year. The effective corporate value of the deal is slightly lower than the 3M Communications marketing department's 7 times-fold forecast for future adjustments, including the expected consolidated annual revenue.

Corning expects the deal to lead to a 0.07-0.09 dollar increase for 2019-year EPS. "Corning leads the market for fiber optic passive devices and solutions. The deal expands our global market coverage and expands our high-bandwidth portfolio. It also brings new opportunities for joint innovation and strengthens our ability to serve global customers, "said Clark S. Kinlin, executive vice president of Corning Communications." As the industry's only real end-to-end optical solutions manufacturer and supplier, we look forward to the strong alliances between the two organizations, At the same time welcome these excellent staff to join.

” The forthcoming acquisition is part of Corning's long-term strategic and capital allocation framework designed to create maximum value for shareholders by leveraging the company's portfolio and financial strength. An important part of this framework is the company's plan to invest about 1 billion to 3 billion dollars for acquisitions.

With the completion of the acquisition, Corning's global market coverage will be extended, and the portfolio of high-bandwidth fiber connectors, components, hardware and accessories for operator networks, corporate networks, and data center solutions will be expanded. 3M Communications Marketing Department headquartered in Texas Austin, in France Pontchâteau has a professional production plant, and has a branch in Hanover, Germany. Details of the purchase will depend on consultation with relevant trade union organizations, customer settlement conditions and regulatory approval requirements.