March 5, 2004 Oxford, UK -- Fiber-optic component manufacturer Afonics Fibreoptics Ltd. has announces the completion of its acquisition of Avrio Technologies Inc., (Los Angeles, CA) and its 100% owned subsidiary company, Avrio Technologies Europe GmbH (Berlin, Germany).
Afonics, which claims it has experienced 100% year-on-year growth, expects the acquisition of Avrio Technologies to re-enforce its North American presence, as well as add new products such as 10-Gbit/sec transponders to its range of active aligned components. Avrio also adds a high-speed electronic design team to Afonics opto-mechanical engineering resources.
Details of the acquisition have been withheld; however, post deal Afonics remains with negligible external ownership. The acquisition forms part of Afonics plan to exceed $80 million in revenue by 2007. Afonics ramping up manufacturing capacity for continued growth as well as planning further strategic acquisitions.