3S PHOTONICS Announces Closing of Purchase of Avensys Inc.
Avensys Inc., a Leading Manufacturer And Distributor Of Fiber Optic Components And Integrator Of Instrumentation And Turn-Key Systems For Environmental Monitoring, To Join With 3S PHOTONICS
Montreal, Canada - February 8, 2010 -- 3S PHOTONICS, world-leading French manufacturer of optical and optoelectronic components for telecommunication networks, today announced the closing of the purchase of Avensys Inc., sole operating subsidiary of Avensys Corporation. Details pertaining to the purchase were originally announced on December 17, 2009.
The acquisition of shares of Avensys Inc. 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 a significantly greater ability to expand product lines and services beyond current capabilities.
The employees of Avensys Inc. and ITF Laboratories will be retained by the new owner and the operations of Avensys Inc. will remain at the same location in Montreal, Quebec. Alexandre Krivine has been appointed President and CEO of Avensys Inc., in addition to his role as President and CEO of 3S PHOTONICS. With respect to ITF Laboratories Inc., Hassan Kassi remains President and CEO, he will also keep his position as Chief Operating Officer of Avensys Inc.
“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 recognized as a world leader of Fiber Bragg Gratings and Fiber Laser technology in a broad range of markets” said Alexandre Krivine, President and CEO of 3S PHOTONICS. “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 leverage each company’s strength in their respective key accounts enabling the companies to provide expanded world-class service and products to customers.
“We stand to benefit greatly from the synergies with 3S PHOTONICS to step in the market of integrated optics particularly in telecom and Fiber Laser markets” stated Hassan Kassi, President and CEO of ITF Labs. “The transaction will place Avensys Inc. in a better financial position and will enable increased investments in Research and Development.”
About Avensys
Avensys Inc., is structured around two divisions, Avensys Tech and Avensys Solutions. Avensys Tech, designs, manufactures, distributes, and markets high reliability optical components and modules as well as FBGs for the telecom market and high power devices and sub-assemblies for the industrial market. Avensys Tech is also a pioneer in the development of packaged fiber-based sensors.
Avensys Solutions, the other division of Avensys Inc., is an industry leader in providing instrumentation and integrated solutions for the monitoring of industrial processes and environmental surveillance applications for air and water in the Canadian marketplace.
To find out more about Avensys Inc., visit our website at www.avensys.com.
About ITF Labs
ITF Laboratories Inc. is 49% owned by Avensys Inc., a wholly-owned subsidiary of 3S PHOTONICS, ITF Labs spearheads the development of ultra-reliable fiber optic systems including high-power fused components, optical sensors, instrumentation and fiber laser components. ITF Labs possesses leading edge intellectual property in Telecom, Fiber Laser and Sensor markets. To find out more about ITF Labs, please visit www.itflabs.com.
About 3S PHOTONICS
3S PHOTONICS – formerly Alcatel Optronics – is the leading world manufacturer of laser chips, optical discrete modules and components for undersea telecommunication networks. It designs, develops, manufactures and commercializes active components powered by in-house III-V optoelectronic chips based on both Gallium Arsenide (GaAs) and Indium Phosphide (InP) technologies and passive components using Fiber Bragg Gratings (FBG).
The 3S PHOTONICS renowned optoelectronic chip manufacturing plant of Nozay is a technological feat that is unique in the world as it brings together GaAs and InP technologies under the same roof.
Its product portfolio includes five product lines:
* Transmission Laser and Detector Modules
* Pump Laser Modules for terrestrial and submarine applications
* Chromatic Dispersion Compensation Modules
* Filters, gain equalizers and pump stabilizers based on Fiber Bragg Gratings for terrestrial and submarine applications
* Chips (lasers and detectors) and Front End Services
With over 15 years of experience, the company takes advantage of its expertise and know-how to also address new markets, providing smart solutions for defense, industrial and medical applications.
Based in Nozay (near Paris, France), 3S PHOTONICS is run by Alexandre Krivine and Didier Sauvage. The company employs over 160 people, of which 130 are experts in the photonics industry.
To find out more about 3S PHOTONICS, please visit www.3Sphotonics.com.
For more information, please contact:
Louise Clément
Avensys
T: 514-428-6766
F: 514-428-8999
lclement@avensys.com