March Networks®, Ottawa, Ontario, a global provider of intelligent IP video solutions, announced that it entered into a definitive agreement with Infinova (Canada) Ltd. and Shenzhen Infinova Ltd., Monmouth Junction, N.J. Per the agreement, Infinova will acquire all shares of March Networks Corp. for C$5.00 per share in cash. The total value of the transaction is approximately C$90.1 million.
“The combined companies create one of the 10 largest global players in the video surveillance industry and is well positioned for the expected industry consolidation over the next five years. Infinova offers March Networks a broader geographic footprint, access to the world’s fastest growing market and a complementary fit with our respective product lines,” said Peter Strom, president and chief executive officer, March Networks.