Materials science and glass giant Corning is to acquire optical communications device developer Alliance Fiber Optic Products (AFOP). Corning is making an all-cash tender offer to acquire AFOP’s outstanding common shares at a price of $18.50 per share, representing a transaction value of around $305 million.
AFOP manufactures passive optical components, such as are used by cloud data-center operators and datacom and telecom OEMs. AFOP components are already used in several of Corning’s existing connectivity solutions. Founded in 1995 and headquartered in Sunnyvale, California, AFOP has manufacturing and product development capabilities in the US, Taiwan and China.
