Corning, Movaz sign deal on switches

Sept. 26, 2002 — Corning Inc. and Movaz Networks said they have signed an agreement to boost deployment of MEMS and other optical networking devices.

The deal includes Movaz sublicensing its wavelength switch intellectual property to Corning, initiating a joint manufacturing development pact, Movaz designating Corning as a preferred supplier and developing metro transparent networking solutions. Terms of the deal were not disclosed, according to a company news release.

Corning stock traded as high as $1.78 on Wednesday before closing at $1.69 a share, up from $1.68 Tuesday.

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