Quebec-based Exfo expands into France with acquisition

Quebec-based EXFO, a specialist in fibre optic testing and mobile network monitoring, says it has purchased a majority stake in Astellia, a similar company based in France. 

Exfo has acquired 97.44 per cent of the capital and at least 95.07 per cent of Astellia’s voting rights for $40.4 million. Astellia works in the field of mobile network performance analysis solutions and subscriber experience. Based in Rennes, France, Astellia reported sales of about $60 million in 2017 and has more than 120 customers worldwide.

“By joining our strengths and technologies, we are creating unique capabilities to help operators keep pace with a quickly changing industry and ever-increasing consumer expectations,” says Exfo founder and executive chairman Germain Lamonde.

The announcement was made Wednesday at the World Mobile Congress in Barcelona, Spain.