Canadian-based video surveillance and business intelligence provider March Networks announced the completion of its acquisition by Delta, a provider in power and thermal management solutions.
Through its subsidiary Delta International Holding Limited B.V., Delta acquired 100 percent of the shares in Infinova (Canada) Ltd., owner of March Networks, from Infinova International Ltd.
Headquartered in Ottawa, Ontario, Canada, March Networks designs enterprise video surveillance and video-based business intelligence solutions. The company works with many Fortune 500 businesses including 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.