OTTAWA, Ont., Canada — March Networks, based here, announces the completion of its acquisition by Delta, a global provider of 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, for $114 million in a deal first announced in October.
March Networks is a global provider of 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,” says 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 its existing executive management team, led by Strom, will remain in place.
Houlihan Lokey acted as the exclusive financial advisor to Infinova and March Networks for this transaction.
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