EXFO Acquires EFOS

QUEBEC CITY, Canada, Mar. 7 -- EXFO Electro-Optical Engineering Inc. has entered into a definitive agreement to acquire EFOS Inc. for 3.7 million EXFO shares and $25 million in cash. At the close of markets on March 5, 2001, the total transaction was worth about $122 million. EFOS, a privately held company in Toronto, develops precision light-based adhesive spot curing technologies as well as curing process control for the optical component manufacturing market.
"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."