Exfo Plans Acquisition of Efos

In a deal estimated at $122 million, Quebec-based Exfo Electro-Optical Engineering Inc. will acquire Efos Inc. of Toronto. The boards of directors of both companies have approved the transaction, which will include $25 million in cash and 3.7 million shares of Exfo stock. The acquisition is subject to regulatory approval.

Efos, a producer of light-based adhesive curing systems for the automated assembly of optical components, has 110 employees. Exfo, which designs and manufactures test and measurement equipment for fiber optics, said it would retain the company's personnel and facilities.