Exfo has agreed to buy a 33 percent stake in Astellia and acquire the rest of the company in order to merge the two companies specialised in network measurement and analytics.
Under the terms of the agreement, Exfo will acquire from Astellia's founders and management all of their shares in the company and from Isatis Capital the majority of its shares in Astellia. This will give Exfo a 33.1 percent stake in Astellia's equity, worth a total EUR 8.6 million based on a price of EUR 10 per share.
This deal should close in the coming days, after which Exfo will launch a cash public tender for the rest of Astellia's shares for the same price. The bid values Astellia in total at EUR 25.9 million.
Subject to regulatory clearance and consultation with works councils, the takeover is expected to close by the end of 2017.
