Wednesday, June 16, 2021

Viavi bids to acquire EXFO for US$7.50 per Share

Viavi Solutions announced a proposal to acquire EXFO at a price of US$7.50 in cash per share, representing an enterprise value of approximately US$430 million for EXFO. The offer represents a premium of 103% to the NASDAQ closing price on June 4, 2021, the trading day before the announcement of the going private transaction by EXFO's majority shareholder, Germain Lamonde; and 25% to the US$6.00 consideration offered under the Going Private Transaction.

Viavi cited clear strategic merits for combining VIAVI and EXFO to build the leader in communications test and measurement for the next decade. The strength of the combined teams and technology, combined with significantly greater scale and financial resources, would enable strong investment in growth while achieving greater operating leverage than either company could do alone.