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Mergers & acquisitions

EXFO Buys EFOS

QUEBEC CITY -- EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO, TSE: EXF) announced today that it has entered into a definitive agreement to acquire EFOS Inc. for 3.7 million EXFO shares and US$25 million in cash. At the close of markets on March 5, 2001, the total transaction was worth approximately US$122 million. EFOS, a privately held company in Toronto, Ont., is widely recognized as a leader in precision light-based adhesive spot curing technologies as well as curing process control for the global optical component manufacturing market. EFOS’ products deliver precise doses of the appropriate spectral light onto photosensitive and heat-cured adhesives to significantly reduce bonding time and increase repeatability in optical component manufacturing.

“EFOS’ UV and IR light-based adhesive spot curing technologies are critical for the assembly of optical components,” said Germain Lamonde, Chairman, President and CEO of EXFO. “We intend to leverage EFOS’ UV and IR light-based curing expertise with the recently acquired Burleigh Instruments’ best-in-class, nano-positioning Inchworm™ technology and our automated component test systems to provide optical component manufacturers with automated solutions. The complex nature of photonics and the various optical parameters that need to be optimized render optical testing the pivotal technology in the automated optical component manufacturing process.”

http://www.exfo.com
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