15/12/2011
Infinova expands with acquisition of March Networks
Monmouth Junction, NJ (USA)
March Networks will be a wholly owned subsidiary of Infinova (Canada) Ltd., operating independently under its existing name and brands. The acquisition is intended to drive growth through both companies' complementary product and service offerings.
"We have always been a technology leader with forward-thinking ideas and cutting-edge design," said Peter Strom, president and CEO of March Networks. "Now we will have Infinova's additional research and design resources as well as manufacturing expertise. These advantages will help us remain among the leaders in the industry by enabling us to bring more innovative products to the market at an accelerated pace."
In 2010 Infinova was listed on the Shenzhen Stock Exchange and raised USD$300 million to support organic growth and fund acquisitions. The acquisition of March Networks, Infinova's first, shall be completed with cash on hand. Closing is subject to shareholder approval of both companies and regulatory approvals.