Exfo, Burleigh Waves Meet
Stephanie A. Weiss
Exfo said it will retain Burleigh's 110 employees and its facilities in the strategic optical corridor near Rochester, N.Y. Burleigh's president, Dave Farrell, noted that the companies have shared an OEM relationship for about 3.5 years, and Lamonde said this experience suggests that corporate culture will not be an issue in integrating the companies.
In the acquisition agreement, Exfo will pay Burleigh $40 million in cash and $235 million in Exfo stock based on the Oct. 13 closing price of $38.13.
Burleigh expects to report calendar-year 2000 revenues of $20 million, and Exfo is predicting that Burleigh will reach that financial milestone in the first eight months of 2001 to close out Exfo's fiscal year. The company predicts $40 million revenues from Burleigh in fiscal 2002.
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