Subsidiary Acquisition

Optical and optoelectronic components manufacturer 3S Photonics of Nozay, France, has entered into a share purchase agreement to acquire Avensys Group subsidiaries Avensys Inc. and ITF Laboratories Inc. for a total of €6.5 million. The holding company, Avensys Corp., owns Avensys Inc. and holds a 42% interest in ITF Laboratories, whose majority shareholder is the Canadian state. The assets of Avensys’ two divisions, Avensys Technologies and Avensys Solutions, as well as those of ITF Laboratories, have merged with those of 3S Photonics.