March Networks Corp. of Ottawa has agreed to acquire an Italian video surveillance vendor, Cieffe S.p.A. of Milan.
The vendors announced Thursday they had reached a definitive agreement, expected to close in March, whereby March will pay 14 million Euros in cash and six million Euros worth of stock. Under the agreement,
March would also acquire a related company, Insignis Technologies S.r.l. Cieffe makes video encoders, Internet Protocol cameras and video management software, plus a megapixel speed dome camera.
March, which is chaired by telecom industry veteran Terry Matthews, was founded in 2000 when Telexis Corp. was spun off by Newbridge Networks, which was since bought by French telecom equipment maker Alcatel SA.
March’s products include R5 Video Intelligence, a software line that includes an operating system and is designed for surveillance systems operating over Internet Protocol networks and on Windows-based servers.