CPE News (10/1/2021) – Delta Electronics, Inc. (TPE: 2308) has agreed to acquire 100% of the shares in Infinova (Canada) Ltd., owner of Ottawa based video surveillance and business intelligence leader March Networks from Infinova International Ltd. for US $114 million or approximately NTD 3,163,500,000.
The acquisition is expected to strengthen Delta’s presence in the growing video surveillance market and complement its building automation solutions.
The transaction is subject to satisfaction of certain closing conditions (such as regulatory approvals).
March Networks will continue to operate from its Canadian headquarters and the March Networks executive management team led by President & CEO, Peter Strom will continue to lead the organization.
In April 2012, March Networks was taken private by Infinova (Canada) Ltd., an indirect wholly owned Canadian subsidiary of Shenzhen Infinova Ltd. (SZSE: 002528), for CDN $5.00 per share in cash for aggregate equity value of CDN $90.3 million.
Shenzhen Infinova, together with its subsidiaries including Infinova International, is controlled by Monmouth Junction, New Jersey based Infinova Corporation.
Neihu, Taipei based Delta (台達電子) is a global leader in switching power supplies and thermal management products.
photo credit: March Networks
Delta to Acquire Global Video Surveillance Provider March Networks to Bolster Its Building Automation Solutions
March Networks expects to accelerate growth and continue transition toward cloud-based VSaaS by collaborating with Delta
TAIPEI and OTTAWA, ON, Oct. 1, 2021 /PRNewswire/ — Delta, a global leader in power and thermal management solutions, today announced its board of directors has approved the purchase of 100% of the shares in Infinova (Canada) Ltd., owner of Canadian-based video surveillance and business intelligence leader March Networks® from Infinova International Ltd. for USD 114 million (approximately NTD 3,163,500 thousand) through its subsidiary Delta International Holding Limited B.V. The deal is expected to strengthen Delta’s presence in the growing video surveillance market and complement its building automation solutions.
Ping Cheng, Delta’s chief executive officer, said, “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. 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.”
March Networks President and CEO, Peter Strom, said, “Delta’s financial strength and scale – with around $10 billion USD 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.” He added that March Networks’ customers and partners should expect no change to the high-quality products and services they’ve come to expect from March Networks as it embarks on its aggressive growth plans.
Following the closing of the transaction*, it is expected that March Networks will continue to operate from its Canadian headquarters and the March Networks executive management team will continue to lead the organization.
* The closing of the transaction is subject to satisfaction of certain closing conditions (such as regulatory approvals).
Delta, founded in 1971, is a global leader in switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, “To provide innovative, clean and energy-efficient solutions for a better tomorrow,” Delta leverages its core competence in high-efficiency power electronics and its ESG-embedded business model to address key environmental issues, such as climate change. Delta serves customers through its sales offices, R&D centers and manufacturing facilities spread over close to 200 locations across 5 continents.
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 10 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
About March Networks
March Networks® helps organizations transform video into business intelligence through the integration of surveillance video, analytics, and data from business systems and IoT devices. Companies worldwide use our software solutions to improve efficiency and compliance, reduce losses and risk, enhance customer service and compete more successfully. With deep roots in video security and networking, March Networks is also recognized as the leader in scalable, enterprise-class video management and cloud services. We are proud to work with many of the world’s largest financial institutions, retail brands, and transit authorities, and to deliver our software and systems through an extensive distribution and partner network in more than 70 countries. Founded in 2000, March Networks is headquartered in Ottawa, Ontario, Canada. For more information, please visit marchnetworks.com. March Networks and the March Networks logo are trademarks of March Networks Corporation. All other trademarks are the property of their respective owners.
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SOURCE Delta Electronics; March Networks