March Networks to be Acquired by Infinova (Canada) Ltd., Shenzhen Infinova of China
March Networks Corporation, an Ottawa-based provider of IP video solutions, announced that it has entered into a definitive agreement with Infinova (Canada) Ltd. and Shenzhen Infinova Ltd., by which Infinova will acquire, through a statutory plan of arrangement, all of the issued and outstanding common shares of March Networks for C$5.00 per share in cash. Shenzhen Infinova is listed on the Shenzhen Stock Exchange in China, but is majority-owned by U.S. shareholders and is headquartered in New Jersey, USA. The total value of the transaction is approximately C$90.1 million. Infinova provides megapixel, IP and analog surveillance cameras, specialized cameras, core equipment for video control rooms, fiber optic communications, access control products and customized systems.