EXFO Acquires Gnubi

QUEBEC CITY -- EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO, TSE: EXF) announced today that it has completed its previously announced acquisition of the assets of gnubi communications, L.P., a leading supplier of multi-channel telecom and datacom testing solutions for system manufacturers. Last month EXFO had signed an agreement to purchase substantially all the assets of gnubi in a stock-and-cash deal ranging between US$4.3 million and US$7.2 million, 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 (BERT) of SONET/SDH and Gigabit Ethernet optical systems reaching data transmission rates of 10 Gb/s. Its product offering addresses test requirements for multiple communication ports in lambda routers, optical switches, cross-connects and DWDM systems. Altogether, gnubi has delivered more than 15,000 test ports to over 50 customers around the world. Gnubi Communications EXFO Electro-Optical Engineering Inc.