EXFO To Buy 33.1% Stake In Astellia; To Launch Voluntary Bid For Remaining Stake

(RTTNews) - EXFO Inc. (EXFO), a developer of smarter network test, monitoring and analytics, announced Thursday that it has signed an agreement to buy 33.1% equity stake in Astellia, a provider of network and subscriber intelligence, with the intent to acquire the remaining equity.

The 33.1% stake represents a total amount of 8.6 million euros at a price of 10 euros per Astellia share. The settlement of these acquisitions will take place in upcoming days.

Upon completion of these acquisitions, EXFO will launch an all-cash voluntary public tender offer to acquire Astellia's remaining shares for the same price.

The proposed public offer will remain subject to the approval of French foreign investment authorities and the supervision of Autorité des marchés financiers.

Astellia's Board of Directors has expressed its support for EXFO's firm offer and the agreements to be signed in order to complete a transaction that values the entirety of Astellia's equity at approximately 25.9 million euros.

The closing of the public tender offer is subject to standard conditions and should take place around the end of calendar year 2017.