Infinova (Canada) Ltd., a provider of video surveillance solutions, is acquiring March Networks Corp., an Ottawa-based provider of intelligent Internet protocol video solutions, for approximately C$90.1 million.
March Networks will be a wholly owned subsidiary of Infinova operating independently under its existing name and brands, Infinova says. The acquisition is intended to drive growth through both companies’ complementary product and service offerings.
“The combination of Infinova’s global robust manufacturing, research and development capabilities and March Networks’ innovative technological design provides our customers with industry-leading, complete video security solutions,” said Jeffrey Liu, Infinova’s chairman. “This transaction increases our combined global presence and elevates us to a position among the top 10 in the global security and surveillance market in terms of revenue.”
“We have always been a technology leader with forward-thinking ideas and cutting-edge design,” said Peter Strom, March Networks’ president and CEO. “Now we will have Infinova’s additional research and design resources as well as manufacturing expertise. These advantages will help us remain among the leaders in the industry by enabling us to bring more innovative products to the market at an accelerated pace.”