Delta to Acquire Global Video Surveillance Provider March Networks® to Bolster Its Building Automation Solutions
March Networks expects to accelerate growth and continue transition toward cloud-based VSaaS by collaborating with Delta
TAIPEI and OTTAWA, October 1, 2021 –– Delta, a global leader in power and thermal management solutions, today announced its board of directors has approved the purchase of 100% of the shares in Infinova (Canada) Ltd., owner of Canadian-based video surveillance and business intelligence leader March Networks® from Infinova International Ltd. for USD 114 million (approximately NTD 3,163,500 thousand) through its subsidiary Delta International Holding Limited B.V. The deal is expected to strengthen Delta’s presence in the growing video surveillance market and complement its building automation solutions.
Ping Cheng, Delta’s chief executive officer, said, “Security being an integral element of smart cities is boosting the global demand for video surveillance technologies. March Networks is a proven leader in providing end-to-end solutions to some of the world’s leading financial institutions, retailers, transit agencies, and commercial customers. We are confident that the collaboration between March Networks and Delta will expand our overall market opportunity and increase Delta’s exposure to the growing video market beyond our surveillance subsidiary VIVOTEK. March Networks’ cloud-based video solutions and business intelligence technologies set it apart and are also a perfect fit with our commitment to develop smart green solutions for a sustainable future.”
March Networks President and CEO, Peter Strom, said, “Delta’s financial strength and scale – with around $10 billion USD in annual revenues, over 80,000 employees, and deep M&A capability – will serve as an ideal platform for March Networks to accelerate its strategic plan of offering cloud-based video surveillance-as-a-service (VSaaS) and video-based business intelligence solutions to enterprises worldwide”. He added that March Networks’ customers and partners should expect no change to the high-quality products and services they’ve come to expect from March Networks as it embarks on its aggressive growth plans.
Following the closing of the transaction*, it is expected that March Networks will continue to operate from its Canadian headquarters and the March Networks executive management team will continue to lead the organization.
* The closing of the transaction is subject to satisfaction of certain closing conditions (such as regulatory approvals).
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 cloud services. We are proud to work with many of the world’s largest financial institutions, retail brands, 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.
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