March Networks plans to accelerate growth and fast-track transition to cloud video surveillance with new parent company
OTTAWA, ON, Dec. 1, 2021 /CNW/ - Canadian-based video surveillance and business intelligence leader March Networks® today announced the completion of its acquisition by Delta, a global leader in power and thermal management solutions.
Through its subsidiary Delta International Holding Limited B.V., Delta acquired 100% of the shares in Infinova (Canada) Ltd., owner of March Networks, from Infinova International Ltd.
Headquartered in Ottawa, Ontario, Canada, March Networks is a global leader in enterprise video surveillance and video-based business intelligence solutions. The company works with many Fortune 500 businesses including leading banks, retailers, and transit agencies, as well as commercial and government organizations.
"With Delta's support, March Networks will accelerate its transition toward cloud video surveillance services," said March Networks President and CEO Peter Strom. "We're excited to be working with Delta as our new parent company, and we look forward to the projected growth of the cloud video market."
The acquisition of March Networks is expected to strengthen Delta's presence in the video surveillance market beyond VIVOTEK, of which it owns a majority stake. It will also complement Delta's building automation solutions.
March Networks will continue to operate as an independent brand, while the existing March Networks executive management team, led by Strom, remains in place.
Houlihan Lokey acted as the exclusive financial advisor to Infinova and March Networks for this transaction.
About March Networks
March Networks® helps organizations transform video into business intelligence through the integration of surveillance video, analytics, and data from business systems and IoT devices. Companies worldwide use our software solutions to improve efficiency and compliance, reduce losses and risk, enhance customer service and compete more successfully. With deep roots in video security and networking, March Networks is also recognized as the leader in scalable, enterprise-class video management and hosted services. We are proud to work with many of the world's largest financial institutions, retail brands, cannabis operators and transit authorities, and to deliver our software and systems through an extensive distribution and partner network in more than 70 countries. Founded in 2000, March Networks is headquartered in Ottawa, Ontario, Canada. For more information, please visit marchnetworks.com. March Networks and the March Networks logo are trademarks of March Networks Corporation. All other trademarks are the property of their respective owners.
Delta, founded in 1971, is a global leader in switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, "To provide innovative, clean and energy-efficient solutions for a better tomorrow," Delta leverages its core competence in high-efficiency power electronics and its ESG-embedded business model to address key environmental issues, such as climate change. Delta serves customers through its sales offices, R&D centers and manufacturing facilities spread over close to 200 locations across 5 continents.
Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to ESG. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 11 consecutive years. In 2020, Delta was also recognized by CDP with two "A" leadership level ratings for its substantial contribution to climate change and water security issues and named Supplier Engagement Leader for its continuous development of a sustainable value chain.
For detailed information about Delta, please visit: www.deltaww.com
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SOURCE MARCH NETWORKS CORPORATION
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