Infinova Completes March Networks Acquisition

Infinova (Canada) Ltd, an indirect wholly owned subsidiary of Shenzhen Infinova Ltd., completed the acquisition of all of the outstanding shares of March Networks Corporation. The transaction was structured as a court-approved arrangement under the Canada Business Corporation Act. Infinova (Canada) acquired the shares of March Networks at a price of $5.00 per share in cash, and the transaction was valued at approximately $90.1 million.

Shenzhen Infinova is a company listed on the Shenzhen Stock Exchange, majority owned by US shareholders and with its global headquarters in New Jersey.

With solutions that enable end-users to extend the life of their existing analog equipment by having it co-exist with their new IP video equipment, 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.

Infinova is acknowledged for its exceptional customer service programs and as “the Integrator's Manufacturer.”

March Networks is a leading provider of intelligent IP video solutions. For more than a decade, the company has helped some of the world's largest commercial and government organizations transition from traditional CCTV to advanced surveillance technologies used for security, loss prevention, risk mitigation and operational efficiency. Its highly scalable and easy to use Command video management platform incorporates a web-based client interface to enable rapid system deployment and complete system control.

It is complemented by the company's portfolio of high-definition IP cameras, encoders, video analytics and hybrid recorders, as well as outstanding professional and managed services.
Infinova (Canada) and Shenzhen Infinova were represented by Eric Levy, Paul Franco and Laurie McQueen (securities and corporate); Manon Thivierge (tax); Subrata Bhattacharjee and Adam Goodman (Investment Canada and competition) and George Karayannides (litigation) of Heenan Blaikie LLP.

March Networks was represented by its in-house counsel, Cheryl Beckett, Executive Vice President, Legal and Corporate Secretary and Christine Maher, Associate General Counsel and by Elizabeth Walker and Ivan Pankoff (securities and corporate); Dov Begun (tax); Michelle Lally and Kaeleigh Kuzma (Investment Canada and competition); and Laura Fric and Raphael Eghan (litigation) of its external counsel Osler, Hoskin & Harcourt LLP.

The Special Committee of the Board of Directors of March Networks was represented by Robert Chapman of Fasken Martineau DuMoulin LLP.