October 7, 2002--EXFO Electro-Optical Engineering announced today that it has completed its previously announced acquisition of the assets of Dallas-based gnubi communications, a supplier of multi-channel telecom and datacom testing solutions for system manufacturers. EXFO (Quebec City, Canada) is a designer and manufacturer of fiber-optic test, measurement, monitoring and automation solutions for the global telecommunications industry.

Last month EXFO had signed an agreement to purchase substantially all the assets of gnubi in a stock-and-cash deal ranging between $4.3 million (U.S.) and $7.2 million (U.S.), depending on sales volume in the next 12 months. Following the closing of the transaction, approximately 1.5 million shares were issued to gnubi.

gnubi's protocol-layer test instruments enable multi-channel, bit-error-rate testing of SONET/SDH and Gigabit Ethernet optical systems reaching data transmission rates of 10 Gbits/sec. Its product offerings address test requirements for multiple communication ports in lambda routers, optical switches, crossconnects and DWDM systems. Altogether, gnubi has delivered more than 15,000 test ports to over 50 customers around the world.