March Networks acquisition.
March networks a global provider of intelligent IP video solutions, today announced that it has entered into a definitive agreement with Infinova (Canada) Ltd.Infinova is a company listed on the Shenzhen Stock Exchange and will integrate well with March. Infinova will acquire, through a statutory plan of arrangement, all of the issued and outstanding common shares of March Networks Corporation for C$5.00 per share in cash. In total the value of the transaction is approximately C$90.1 million. The takeover is subject to approval by the shareholders of both companies.March Networks and Infinova between them create one of the 10 largest global players in the video surveillance industry a powerful force will emerge and there is much to be gained by both parties from this merger. Infinova offers March Networks a broader geographic footprint, access to the world’s fastest growing market and a complementary fit with respective product lines. The merger is consistent with a strategy to accelerate growth and expand in the Asian market from March networks perspective.March Networks is established as one of the leading players in the video industry and Infinova will help to take the new company forward when they combine forces. This acquisition provides scale in all critical markets, as well as giving Infinova access to March Network’s IP technology. It is thought March will continue to operate independently from its Ottawa headquarters and maintain its name and brands. March will benefit from Infinova’s manufacturing expertise.