March Networks Eyes the Future Under Delta Ownership
Delta acquired 100% of the shares in Infinova Ltd., owner of March Networks, for $114 million in a deal first announced in October.
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.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Related Content
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.
