3S Photonics to Acquire Avensys and its Canadian Subsidiaries
Source/Type: News - Staff reports

Author: CompoundSemi News Staff

December 21, 2009... 3S Photonics, a French manufacturer of optical and optoelectronic components for telecommunications networks, 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 Euros. The holding company Avensys Corp., owns two companies: Avensys Inc, its wholly-owned subsidiary and ITF Laboratories Inc., in which it owns a 42% interest. The majority of the remaining shares belong to the Canadian State. Avensys Inc. employs 200 people. It designs, manufactures and distributes optical components and modules for the telecom market as well as high power devices, sub-assemblies and fiber-based sensors for the industrial market. It also develops environmental monitoring solutions and services for air, water, soil and geo-structures.

ITF Laboratories handles Avensys's research & development and produces integrated Photonics solutions and reliable components and fiber-based systems for fiber lasers and optical sensing applications. Upon closing, assets of Avensys Inc.'s two divisions, Avensys Technologies and Avensys Solutions, and the assets of ITF Laboratories Inc., will be merged with 3S Photonics. The closing of the sale is expected in January 2010.

"We are proud of this acquisition, which corresponds to the implementation of the external growth strategy that we planned last July when we raised funds. We are also delighted to welcome such a great company, armed with know-how which will complement our own, and to establish links across the Atlantic with our Canadian friends," declared Alexandre Krivine, President and CEO of 3S Photonics. 3S Photonics News Release

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