3S Photonics, a French manufacturer of optical and optoelectronic components for telecommunication networks, has closed the purchase of Avensys Inc, sole operating subsidiary of Avensys Corporation.
The acquisition of shares of Avensys and its participation in ITF Laboratories Inc, by 3S Photonics is expected to result in a business, operating in both North America and Europe, with exceptional product synergies and the ability to expand product lines and services beyond current capabilities.
The Avensys operations will remain in Montreal, Quebec and Alexandre Krivine, president and CEO of 3S Photonics, has been appointed president and CEO of the Avensys. With respect to ITF Laboratories, Hassan Kassi remains president and CEO and will also keep his position as chief operating officer of Avensys.
'We are proud of this acquisition, which corresponds to the implementation of the external growth strategy that we planned last July, when we raised funds. Avensys is recognised as a world leader of fibre Bragg gratings and fibre laser technology in a broad range of markets,' said Krivine. 'This acquisition will also enable 3S Photonics to address the environmental market through the Avensys Solutions division.'
3S Photonics and Avensys will combine their global sales and marketing channels to use each company's strength in their respective key accounts enabling the companies to provide expanded service and products to customers.