EXFO to Acquire InOpticals Inc.

Expanding test activity in 400G/800G lab and manufacturing markets

Quebec City, Sept. 9, 2020 /CNW/ - EXFO Inc. (NASDAQ: EXFO) (TSX: EXF) announced today the acquisition of InOpticals Inc., a technology leader offering ultra-high-speed test instruments for the laboratory and manufacturing markets, subject to closing conditions by regulatory authorities.

InOpticals, based in Taiwan, supplies sampling oscilloscopes, bit-error rate testers (BERTs) and other critical test instruments to manufacturers of optical transponders, components and network equipment. Its product portfolio specifically addresses 400G/800G high-growth sectors like silicon photonics-based transceivers, active and passive components as well as integrated test systems for R&D and manufacturing use cases.

InOpticals' solutions will be combined with EXFO's advanced optical test offering, bolstered by the Yenista Optics acquisition in October 2017. This latest acquisition, which is expected to close by the end of October, will increase EXFO's global test and measurement (T&M) addressable market by approximately US$150 million to more than US$1 billion. The amount of the transaction, mostly valued in EXFO shares, was not disclosed.

"EXFO has intensified its focus on the research, development and manufacturing market as demonstrated by strong growth in this segment in recent years," said Germain Lamonde, EXFO's founder and Executive Chairman. "InOpticals brings to EXFO a remarkable product portfolio that is highly complementary and strategic. This synergistic acquisition will allow EXFO to leverage InOpticals' innovative test solutions across global sales channels and expand market share."

"We're excited to be joining EXFO, truly a global leader in optical testing," said Jones Huang, CEO of InOpticals. "Combining EXFO's global reach and market knowledge with our proven innovation capability will allow us to jointly have a more significant impact in this high-growth market."

About EXFO

EXFO (NASDAQ: EXFO) (TSX: EXF) develops smarter test, monitoring and analytics solutions for fixed and mobile network operators, webscale companies and equipment manufacturers in the global communications industry. Our customers count on us to deliver superior network performance, service reliability and subscriber insights. They count on our unique blend of equipment, software and services to accelerate digital transformations related to fiber, 4G/LTE and 5G deployments. They count on our expertise with automation, real-time troubleshooting and big data analytics, which are critical to their business performance. We've spent over 30 years earning this trust, and EXFO employees in over 25 countries work side by side with our customers in the lab, field, data center and beyond.

About InOpticals

InOpticals Inc. is a Hsinchu company founded in 2017 to develop and market high-speed test and measurement instruments.

Source EXFO Inc.

Contact:
Vance Oliver, Director, Investor Relations, (418) 683-0913, Ext. 23733, vance.oliver@exfo.com

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