PXIT acquires FiberGrade for $3m

IT firm PXIT has acquired the Boston-based FiberGrade, a developer of optical transmission monitoring technologies, for $3 million.

PXIT said it acquired FiberGrade in order to add to its product portfolio as well as bring on board the start-up’s knowledge and expertise in the transmission testing industry. The acquisition was originally funded by 4th Level Ventures and Delta Partners.

PXIT was formed through the merger of Tsunami Photonics Ltd and PX Instrument Technology in Ireland in May 2003.