3S Photonics to acquire Avensys for telecom components and fiber sensors
December 18, 2009--3S Photonics (Nozay, France; formerly Alcatel Optronics), manufacturer of optical and optoelectronic components for telecommunications networks, entered into a share purchase agreement to acquire Avensys Group subsidiaries Avensys Inc. and ITF Laboratories Inc., for a total of $9.3 million dollars.
December 18, 2009--3S Photonics (Nozay, France; formerly Alcatel Optronics), manufacturer of optical and optoelectronic components for telecommunications networks, entered into a share purchase agreement to acquire Avensys Group subsidiaries Avensys Inc. and ITF Laboratories Inc., for a total of $9.3 million dollars (see also "3S Photonics raises more than $18 million dollars" and "3S Photonics enters FTTH market").
The holding company Avensys Corp., formerly quoted on the Nasdaq, 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 belonging to the Canadian State. Over the 2008 fiscal year (ending on 30 June 2009), Avensys Corp. saw turnover of 23 million dollars and employs 200 people.
Avensys Inc. 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 is also the leader on the Canadian market in environmental monitoring solutions and services for air, water, soil and geo-structures. And finally, the company handling Research & Development, ITF Laboratories Inc., develops innovative integrated photonics solutions as well as high reliability components and fiber-based systems for fiber lasers and optical sensing applications.
Upon the close of the sale, the 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.
"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," said Alexandre Krivine, president and CEO of 3S Photonics.
With 95% of its turnover from abroad, essentially in the Asia-Pacific zone, 3S Photonics extends its perimeter of activity. 3S Photonics expects to achieve, thanks to the integration of Avensys, a cumulated turnover of around $70 million in the next fiscal year.
For more information, go to www.3Sphotonics.com.