Viavi Solutions has revealed its proposal to acquire rival EXFO in a deal valued at approximately $430 million.
VIAVI intends to continue EXFO’s brand and legacy, recognizing EXFO’s reputation built on years of quality product development, engineering excellence and customer service, and continue EXFO’s presence and operations in Quebec to complement and expand upon VIAVI’s engineering and product development teams in Quebec and Ottawa.
EXFO’s board is yet to respond.
EXFO’s majority shareholder, Germain Lamonde, has advised the special committee of the EXFO board that he would not consider any alternative change of control transaction.
VIAVI reported revenue of $303.4 million and net income of $11.8 million for its third fiscal quarter ended April 3, 2021.