EXFO Acquires PicoSolve
February 09 2009 - 8:00AM
PR Newswire (US)
Swedish company offers the industry's fastest optical sampling
oscilloscopes for 40G and 100G R&D, manufacturing and
deployment applications QUEBEC CITY, Feb. 9 /PRNewswire-FirstCall/
-- EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO; TSX: EXF)
announced today the acquisition of PicoSolve, Inc., a private test
and measurement company offering the industry's fastest optical
sampling oscilloscopes for 40G and 100G R&D, manufacturing and
deployment applications. PicoSolve, founded in 2004 by researchers
at Chalmers University of Technology in Gothenburg, Sweden,
provides ultra-high-speed optical sampling oscilloscopes to network
equipment manufacturers (NEMs) involved in the design and
production of next-generation optical networks. Network service
providers (NSPs) will also require such high-end test equipment for
their deployment initiatives. With bandwidth demand growing
exponentially worldwide, NEMs are increasing the transmission rates
of their optical networks to 40 Gbit/s and, in the near future, to
100 Gbit/s. Advanced modulation schemes, in which data is encoded
in both phase and amplitude of the optical carrier, allow NEMs to
reach ultra-high network speeds using existing DWDM channel
spacing, while maintaining resilience to chromatic and polarization
dispersion phenomena. Full characterization of this
ultra-high-speed encoding represents a significant test and
measurement challenge for both NEMs and NSPs. PicoSolve currently
has the only bit rate-independent test solution that can measure
such phase- and amplitude-modulated signals with a measurement
bandwidth of more than 500 GHz, yielding a sub-picosecond temporal
resolution. PicoSolve also brings to EXFO a rich intellectual
property portfolio with patents that will be leveraged over time.
"PicoSolve represents a small but highly strategic acquisition
because it significantly strengthens our leadership position for
characterizing ultra-high-speed optical networks for the NEM and
NSP markets," said Germain Lamonde, EXFO's Chairman, President and
CEO. "PicoSolve's optical sampling oscilloscopes and the deep
knowledge base that its team brings to EXFO will prove to be
invaluable assets as technologies migrate from R&D labs, onto
manufacturing floors, and into the field in upcoming years. Once
again, EXFO will be front and center to assist customers in their
testing needs." "We are pleased to have found in EXFO a strong
launching pad for our optical sampling oscilloscopes," said Dr.
Peter Andrekson, CEO of PicoSolve. "Our technological leadership,
combined with EXFO's brand equity, leading market share in optical
testing, as well as global sales presence and relationships, should
result in significant market-share gains in this fast-growing
market." According to Infonetics Research, the global market for
40G and 100G optical network equipment should grow at a compound
annual growth rate (CAGR) of 46.2% from 2009 to 2011 to reach
US$5.1 billion. About PicoSolve PicoSolve, founded in 2004, is a
spin-off from Chalmers University of Technology in Gothenburg,
Sweden. Its staff has a very strong research track record in
all-optical sampling systems, and is now taking this a step further
to develop new, useful instruments for the fiber-optic
communications industry and R&D labs. About EXFO EXFO is a
leading provider of test and service assurance solutions for
network service providers and equipment manufacturers in the global
telecommunications industry. The Telecom Division offers a wide
range of innovative solutions extending across the full technology
lifecycle - from design to technology deployment and onto service
assurance - and covering all layers on a network infrastructure to
enable triple-play services and next-generation, converged IP
networking. The Life Sciences and Industrial Division offers
solutions in medical device and opto-electronics assembly,
fluorescence microscopy and other life science sectors. For more
information, visit http://www.exfo.com/. Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995, and we intend that such forward-looking statements be subject
to the safe harbors created thereby. Forward-looking statements are
statements other than historical information or statements of
current condition. Words such as may, will, expect, believe,
anticipate, intend, could, estimate, continue, or the negative or
comparable terminology are intended to identify forward-looking
statements. In addition, any statements that refer to expectations,
projections or other characterizations of future events and
circumstances are considered forward-looking statements. They are
not guarantees of future performance and involve risks and
uncertainties. Actual results may differ materially from those in
forward-looking statements due to various factors including
consolidation in the global telecommunications test, measurement
and monitoring industry; capital spending levels in the
telecommunications, life sciences and high-precision assembly
sectors; concentration of sales; fluctuating exchange rates and our
ability to execute in these uncertain conditions; the effects of
the additional actions we have taken in response to such economic
uncertainty (including our ability to quickly adapt cost structures
with anticipated levels of business, ability to manage inventory
levels with market demand); market acceptance of our new products
and other upcoming products; limited visibility with regards to
customer orders and the timing of such orders; our ability to
successfully integrate our acquired and to-be-acquired businesses;
our ability to successfully expand international operations; the
retention of key technical and management personnel; and future
economic, competitive, financial and market conditions, including
any slowdown or recession in the global economy. Assumptions
relating to the foregoing involve judgments and risks, all of which
are difficult or impossible to predict and many of which are beyond
our control. Other risk factors that may affect our future
performance and operations are detailed in our Annual Report, on
Form 20-F, and our other filings with the U.S. Securities and
Exchange Commission and the Canadian securities commissions. We
believe that the expectations reflected in the forward-looking
statements are reasonable based on information currently available
to us, but we cannot assure you that the expectations will prove to
have been correct. Accordingly, you should not place undue reliance
on these forward-looking statements. These statements speak only as
of the date of this document. Unless required by law or applicable
regulations, we undertake no obligation to revise or update any of
them to reflect events or circumstances that occur after the date
of this document. DATASOURCE: EXFO Electro-Optical Engineering Inc.
CONTACT: Vance Oliver, Manager, Investor Relations, (418) 683-0913,
Ext. 3733,
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