Averna said it will broaden and strengthen its presence in Europe after striking a deal to acquire Belgium-based Test & Measurement Solutions.
Financial details were not announced, but Aerna’s main shareholders, Tandem Expansion and Caisse de dépôt et placement du Québec (CDPQ), both participated in the financing of the acquisition.
Headquartered in Belgium and with offices in the Netherlands and Poland, T&M Solutions has about 100 employees. T&M Solutions’ management, including current owners Roel Geraerts and Kurt Hensen, will stay on as Averna looks to expand into new markets.
Averna, which has developed testing products for cable’s new multi-gigabit DOCSIS 3.1 platform, said the buy will boost its presence in the region and create a “springboard for further European deployments.”
“This major expansion into Europe signals Averna’s strategic positioning to accelerate growth and become a truly global Test Engineering powerhouse. Test & Measurement Solutions and Averna share complementary solution portfolios, clients and partners, so this is a real win-win arrangement for everyone,” François Rainville, VP of sales and marketing for Averna, said in a statement.