EXFO Inc. (NASDAQ: EXFO) (TSX: EXF) says it has agreed to acquire fellow test instrument supplier InOpticals Inc. for an undisclosed sum “mostly valued in EXFO shares.” The company expects the deal to close by the end of next month, noting that the consummation is subject to closing conditions by regulatory authorities.
Founded in 2017, Taiwan-based InOpticals develops sampling oscilloscopes, bit-error rate testers (BERTs), and other test instruments for use by manufacturers of optical transponders, components, and network equipment. It specializes in meeting the requirements of 400G/800G technology evaluation, including silicon photonics-based transceivers and active and passive components. It also offers integrated test systems for R&D and manufacturing applications.
The deal is the second EXFO has executed in this area in recent years. The company bought Yenista Optics, which specialized in R&D and manufacturing instruments, in October 2017 (see “EXFO eyes Yenista Optics acquisition”).
"EXFO has intensified its focus on the research, development and manufacturing market as demonstrated by strong growth in this segment in recent years," said Germain Lamonde, EXFO's founder and executive chairman. "InOpticals brings to EXFO a remarkable product portfolio that is highly complementary and strategic. This synergistic acquisition will allow EXFO to leverage InOpticals' innovative test solutions across global sales channels and expand market share."
"We're excited to be joining EXFO, truly a global leader in optical testing," added Jones Huang, CEO of InOpticals. "Combining EXFO's global reach and market knowledge with our proven innovation capability will allow us to jointly have a more significant impact in this high-growth market."
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