March Networks Acquired by Vivotek Parent Company Delta for $114M
March Networks says Delta’s financial strength and scale will serve as an ideal platform for it to accelerate its strategic plan of offering VSaaS and video-based business intelligence solutions to enterprises worldwide.
OTTAWA, ON, Canada — Delta, a global provider of power and thermal management solutions, announces its board of directors has approved the purchase of 100% of the shares in Infinova (Canada) Ltd., owner of Canadian-based video surveillance and business intelligence leader March Networks from Infinova Int’l Ltd. for $114 million through its subsidiary, Delta Int’l Holding Limited B.V.
The deal is expected to strengthen Delta’s presence in the growing video surveillance market and complement its building automation solutions, according to the company.
“Security being an integral element of smart cities is boosting the global demand for video surveillance technologies. March Networks is a proven leader in providing end-to-end solutions to some of the world’s leading financial institutions, retailers, transit agencies and commercial customers,” says Delta CEO Ping Cheng. “We are confident that the collaboration between March Networks and Delta will expand our overall market opportunity and increase Delta’s exposure to the growing video market beyond our surveillance subsidiary Vivotek. March Networks’ Cloud-based video solutions and business intelligence technologies set it apart and are also a perfect fit with our commitment to develop smart green solutions for a sustainable future.”
Following the closing of the transaction, which is subject to satisfaction of certain closing conditions and regulatory approval, it is expected that March Networks will continue to operate from its Canadian headquarters and its executive management team will continue to lead the organization.
March Networks President and CEO Peter Strom says, “Delta’s financial strength and scale — with around $10 billion USD in annual revenues, over 80,000 employees, and deep M&A capability — will serve as an ideal platform for March Networks to accelerate its strategic plan of offering Cloud-based video surveillance-as-a-service (VSaaS) and video-based business intelligence solutions to enterprises worldwide”.
He adds that the company’s customers and partners should expect no change to the high-quality products and services they’ve come to expect as it embarks on its aggressive growth plans.
March Networks was acquired by China-based Infinova in 2012 for $88.2 million.
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