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Global Video Surveillance Leader March Networks® Acquired by DeltaMarch Networks plans to accelerate growth and fast-track transition to cloud video surveillance with new parent company OTTAWA, ON, Dec. 1, 2021 /CNW/ - Canadian-based video surveillance and business intelligence leader March Networks® today announced the completion of its acquisition by Delta, a global leader in power and thermal management solutions. Through its subsidiary Delta International Holding Limited B.V., Delta acquired 100% of the shares in Infinova (Canada) Ltd., owner of March Networks, from Infinova International Ltd. Headquartered in Ottawa, Ontario, Canada, March Networks is a global leader in enterprise video surveillance and video-based business intelligence solutions. The company works with many Fortune 500 businesses including leading 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 Netwoks 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. About March Networks To keep up with March Networks news and updates, subscribe to its Intelligent IP Video Blog and stay connected by following March Networks onLinkedIn, Twitter, Facebook, Instagram and YouTube. About Delta Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to ESG. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 11 consecutive years. In 2020, Delta was also recognized by CDP with two "A" leadership level ratings for its substantial contribution to climate change and water security issues and named Supplier Engagement Leader for its continuous development of a sustainable value chain. For detailed information about Delta, please visit: www.deltaww.com View original content to download multimedia:https://www.prnewswire.com/news-releases/global-video-surveillance-leader-march-networks-acquired-by-delta-301435497.html SOURCE MARCH NETWORKS CORPORATION |