Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?

To: michael who wrote (612)	6/26/2000 4:48:00 PM
From: mike machi	Read Replies (1) \| Respond to of 2260

Corning to Acquire Assets of Willow Systems, Inc. CORNING, N.Y., Jun 26, 2000 (BUSINESS WIRE) -- Corning Incorporated (NYSE: GLW) today announced that it has reached agreement to acquire the assets of Willow Systems, Inc. from NextPath Technology, Inc. (OTCBB: NPTK). Willow Systems is a leading expert in servo electronics for precision optical instruments. Terms of the agreement were not disclosed. Commenting on the agreement, David Nuttle, president and CEO of NextPath Technology, Inc., said, "NextPath is extremely pleased that a company of Corning's stature has agreed to acquire Willow Systems, Inc. We believe that the transaction will be in the best interests of NextPath's shareholders. NextPath plans to refocus and expand efforts related to the balance of its Precision Technology Group companies: Sagebrush Technologies, Inc., Laser Wireless, Inc., and other companies in the NextPath family." Willow Systems is located in Albuquerque, N.M. It designs and builds prototype servo systems for gimbals and other optical instruments. Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning revenues for 1999 were $4.7 billion.