Ottawa-based video surveillance software developer March Networks announced in early December the completion of its acquisition by Delta, a global power and thermal management provider.
Through its subsidiary, Delta International Holding Limited B.V., the company acquired 100 per cent of the shares in March Networks’s owner, Infinova (Canada) Ltd., from Infinova International Ltd. March Networks will continue to operate as an independent brand with the existing executive management team, led by Peter Strom, March Networks president and CEO.
“With Delta’s support, March Networks will accelerate its transition toward cloud video surveillance services,” said 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 is expected to increase Delta’s presence in the video surveillance market beyond its majority stake in surveillance provider, VIVOTEK. The company also plans to use March Networks to prop up projects related to building automation.