Dr Jeffrey Liu, chairman of Infinova, said: “The combination of Infinova’s global robust manufacturing, research and development capabilities and March Networks’ innovative technological design provides our customers with industry-leading, complete video security solutions.
“This transaction increases our combined global presence and elevates us to a position among the top 10 in the global security and surveillance market in terms of revenue.”
March Networks will be a wholly owned subsidiary of Infinova (Canada) Ltd., operating independently under its existing name and brands.
Growth driver
The acquisition is intended to drive growth through both companies’ complementary product and service offerings.
Peter Strom, president and CEO of March Networks, said: “We have always been a technology leader with forward-thinking ideas and cutting-edge design.
“Now we will have Infinova’s additional research and design resources as well as manufacturing expertise.
“These advantages will help us remain among the leaders in the industry by enabling us to bring more innovative products to the market at an accelerated pace.”
In 2010 Infinova was listed on the Shenzhen Stock Exchange and raised USD$300 million to support organic growth and fund acquisitions.
The acquisition of March Networks, Infinova’s first, shall be completed with cash on hand. Closing is subject to shareholder approval of both companies and regulatory approvals.
