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Infinova gets into DIY

Infinova to pay $87 million to Swann equity holder
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10/29/2014

MONMOUTH JUNCTION, N.J.—Video surveillance provider Infinova is getting into the DIY market, with planned acquisition of Swann Communications, an Australian company that has offices in the United States.

March Networks/Infinova deal likely to close in next few weeks

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Wednesday, March 21, 2012

March Networks, provider of intelligent IP video solutions, announced yesterday that its shareholders approved the sale of the company to Infinova. The $88 million deal, announced in December
may close as soon as next week and before the end of April, according to a statement from March.

March is awaiting a "final order"  from the Ontario Superior Court of Justice. The hearing is scheduled for this Friday.

Infinova to acquire March Networks for $88.2 million

New entity will have ‘one of the largest R&D departments’ in the video surveillance industry
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12/09/2011

MONMOUTH JUNCTION, N.J., and OTTAWA—In a deal designed to speed March Networks' entry into the Asian market and create one of the ten largest global players in the video surveillance industry, Infinova announced Dec. 9 that it will acquire March Networks in a cash deal worth $88.2 million (C$90 million).

Infinova to acquire March Networks for $88.2m cash

 - 
Friday, December 9, 2011

In a deal that will speed March Networks' plan to expand into the Asian market, and create what Infinova says is one “10 largest global players in the video surveillance industry,” of IP video provider Infinova announced this morning that it will acquire IP video provider March Networks in a cash deal.

Infinova will pay $4.9 ($5.00 Canadian) per share. The total value of the sale will be about $88.2 million (or about $90m Canadian).

Infinova, which has its U.S. headquarters in Monmouth Junction, N.J. went public in Dec. 2010 on the Shenzhen exchange and raised $300 m. During an interview at that time, Infinova CEO Jeffrey Liu told me the funds will be used to expand R&D, marketing and sales and acquisitions:  “We’re hiring on all fronts; we’re in hiring mode,” Liu said during that interview. “But we’re not going to use the $300 million just for that, we’ll be looking for acquisitions that will help us get more market share quickly.”

What kind of acquisitions? “We’ve just started looking,” Liu said at the time. However, he said, another small manufacturer would be likely.

March Networks will continue to operate independently from its headquarters in Ottawa, and will retain its name and other brands.

I spoke to March Networks CEO Peter Strom and CMO Net Payne at ASIS in September. The two talked about how their new product introductions (an enterprise DVR, a 5 megapixel and a 3 megapixel camera, as well as new SearchLight applications such as skimming-detection features) are optimized for March’s focus verticals: banking and retail.

Strom noted that March Networks has grown from a $6 million to a $100 million company over the course of eight years ...  and counts the top 50 banks in the world among its global customers with many banking and retail customers standardizing on March Networks globally. Payne said the company is becoming more “channel centric” and said the new products announced at the show are easier to use, install and are reliable, “so you don’t have to roll a truck regularly.” March Networks raised $45 m when it went public in June of 2005.

According to Reuters, "March Networks also announced its quarterly financial results. For the second-quarter, the company reported a loss of C$2.3 million, or 13 Canadian cents per share, compared with earnings of C$1.2 million, or 7 Canadian cents per share, a year ago."

The deal is subject to shareholder and regulatory approval. I’ll have more on the story on next week’s newswire after I speak with Stphen Cannellos of Infinova and Peter Strom at March Networks.

Infinova launches Certified Integrator Program

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04/11/2011

MONMOUTH JUNCTION, N.J.—Camera manufacturer Infinova will launch its channel partner program, called the Infinova Certified Integrator Program, at ISC West on April 6.

Infinova raises $300 m in IPO

A second IPO part of long-term strategy
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01/07/2011

MONMOUTH JUNCTION, N.J.—Video surveillance manufacturer Infinova announced Jan. 6 that it had taken the company public and raised $300 million with a Dec. 24 IPO on the Chinese Stock Exchange.

Infinova grows technical support staff

SSN Staff  - 
12/08/2010

MONMOUTH JUNCTION, N.J.—Infinova on Dec. 7 announced that Jeff Hanna has joined the technical support staff at Infinova headquarters in the United States. Hanna is the latest hire to this key Infinova group which provides technical support for Infinova integrators in the Americas, Europe, Middle East, Africa and India.