March Networks, Vivotek Now Under Same Ownership
Delta, owner of surveillance subsidiary Vivotek, has approved the purchase of 100% of the shares in Infinova (Canada) Ltd., owner of Canadian-based video surveillance manufacturer March Networks from Infinova International Ltd. for $114 million through its subsidiary Delta International Holding Limited B.V. The deal will to strengthen Delta’s presence in the growing video surveillance market and complement its building automation solutions.
“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,” said Ping Cheng, CEO at Delta.
“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,” Ping said.
“Delta’s financial strength and scale – with around $10 billion 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,” said Peter Strom, president and CEO of March Networks.
He added that March Networks’ customers and partners should expect no change to the high-quality products and services they have come to expect from March Networks as it embarks on its aggressive growth plans.
Following the closing of the transaction, March Networks will continue to operate from its Canadian headquarters and the March Networks executive management team will continue to lead the organization.