Exfo acquires wireless test specialist NetHawk Oyj
March 22, 2010
Exfo Inc. has acquired NetHawk Oyj, saying it is the second-largest provider of 2G, 3G and 4G/LTE protocol analyzers and simulators for wireless network equipment manufacturers (NEMs) and network operators, in an all-cash transaction estimated at about $52 million CAD.
The company entered into a purchase agreement to acquire 91% of
NetHawk’s outstanding shares and will purchase the remaining shares
pursuant to a statutory procedure under the Finnish Companies Act. An
additional earn-out, based on sales over the next three years, could
raise the total value of the transaction.
Headquartered in Oulu, Finland, NetHawk brings to Exfo almost 20 years
of wireless expertise and customer relationships. Key products consist
of protocol analyzers for protocol development, network deployment,
optimization and performance measurement as well as network simulators
for load generation, regression and functional testing.
“This acquisition represents a defining milestone in Exfo’s near 25-year
history, since it not only transforms us into a global force in
wireless testing, but it also moves us among the top five suppliers in
the telecom test and service assurance industry with more than 1600
employees in 25 countries supporting in excess of 2000 customers,” said
Germain Lamonde, Exfo’s chair, president and CEO. “In a nutshell, I’m
confident the whole is far greater than the sum of the parts and we
intend to press forward on our long-term strategy to deliver growth in
revenues and earnings. I’m pleased to welcome the entire NetHawk staff
to the Exfo family.”
Exfo plans to retain NetHawk’s management, R&D, sales and marketing
teams (about 370 employees, mainly located in Finland, India and the
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