TELEO CAPITAL ACQUIRES EXFO’S ADAPTIVE SERVICE ASSURANCE (ASA) DIVISION, ESTABLISHING NUMODATA AS A NEW INDEPENDENT COMPANY
Boise, ID – November 20, 2025 – TELEO Capital Management, LLC (“TELEO”) has announced the acquisition and formation of NumoData from EXFO, opening a new chapter in AI-driven service assurance innovation.
Employees and leadership from EXFO’s ASA division are transitioning to NumoData. EXFO retains a minority stake in the new company, and Philippe Morin will join NumoData’s board of directors to support a smooth transition and ongoing collaboration.
The newly independent company is positioned to transform network operations through AI-powered intelligence for communications service providers (CSPs) and enterprises. This builds on its existing strong service assurance customer base, partnerships, and technology.
"EXFO’s adaptive service assurance solutions have helped network operators globally automate, analyze, and optimize their operations, and NumoData will now advance the innovation even further," said Philippe Morin, CEO of EXFO.
With significant investment in AI readiness and next-generation capabilities, NumoData’s data-agnostic platform delivers agentic AI-driven troubleshooting, semantic digital twins, and advanced AIOps that support complex, multi-domain environments, from RAN to core to edge. This enables intelligent fault diagnosis, proactive anomaly detection, and automated remediation that reduces operational costs while enhancing network performance and user experience.
"We see tremendous opportunity as network operators navigate the transformation to AI-powered autonomous operations. NumoData is positioned at the forefront of this shift, investing heavily in AIOps to help CSPs unlock new value from their networks. The company's AI-ready platform, combined with dedicated investment and strategic focus, will accelerate innovation across the telecommunications industry. We're excited to support NumoData as they shape the future of network intelligence,” said TELEO Capital.
About NumoData NumoData is an independent global software company specializing in AI-powered network intelligence, AIOps, and advanced analytics for communications service providers and enterprises. Formed in 2025 following the sale of EXFO’s Adaptive Service Assurance business and backed by TELEO Capital, NumoData is investing in the future of network operations through generative AI, autonomous operations, and predictive analytics across mobile, broadband, and private 5G networks. With a proven foundation built over 17 years and strategic partnerships with industry leaders, NumoData serves global Tier 1 and Tier 2 CSPs from its U.S. headquarters and regional offices around the world.
EXFO develops smarter test, measurement, and monitoring solutions for the global communications industry. We are trusted advisers to network operators, hyperscalers, and leaders in the manufacturing, development, and research sectors. They count on us to deliver superior visibility and insights into network performance, service reliability, and user experience. Building on 40 years of innovation, EXFO’s unique blend of equipment, software, and services enables faster, more confident transformations related to 5G, cloud-native, and fiber optic networks.
TELEO Capital is a lower middle market private equity firm that looks to invest in opportunities where its strategic thought, operational resources, and capital base empower management to perform and execute their business plan. TELEO brings a successful track record of executing corporate carve-outs, recapitalizing broken balance sheets, acquiring founder-owned companies, and implementing buy and build strategies for its portfolio companies. TELEO targets opportunities in the technology & software, healthcare IT, business services, and industrial sectors. The firm is headquartered in Boise, ID with an additional office in Los Angeles, CA.
For additional information, please contact Matt Oehlmann at moehlmann@teleocapital.com or visit our website at www.teleocapital.com