EXFO Electro-Optical Engineering Inc. has agreed to acquire Avantas Networks Corporation for US$93 million for a consideration of approximately 4.4 million subordinate voting shares of EXFO and US$36 million. The transaction has been structured in part as a triangular merger and closed on August 20, 2001. Avantas is a Montreal based company that is a supplier of leading edge fiber optic testing and optical network performance management equipment.
Acting on behalf of EXFO are Robert Paré, Peter Villani, Frédéric Boucher (corporate), René Cadieux (regulatory) and Claude Auger (tax) of the Montreal office of Fasken Martineau DuMoulin LLP. Also acting on behalf of EXFO are in-house counsel Guy-Paul Allard and Kimberley A. Okell. Acting on behalf of Avantas are Robert D. Chapman and Virginia K. Schweitzer (business), Madeleine Renaud (regulatory) and James G. Morand (tax) of McCarthy Tétrault LLP.