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CORNING - Coming, Inc. says it has sold most of its venture capital unit, CIV LLC, to Scimitar Capital Partners, a Saudi Arabia-based, private-equity firm.
CIV, which once stood for Coming Innovation Ventures, will remain based in Coming, N.Y., and Greg Smith will stay on as president.
The sale, for which terms were not disclosed, includes a portfolio of 16 companies involved in the optical-communications-technology business.
Smith says he'll focus on building the value of the...