March Networks adds Cieffe to its network

Canada/Italy. March Networks, a leading provider of intelligent IP video analytics applications, has completed the acquisition of Cieffe SpA and its subsidiary Insignis Technologies Srl, based in Milan, Italy. This company develops high-performance IP video surveillance solutions. The transaction was completed with the payment of €14 million in cash and the issuance of 1,019,252 shares of March common stock to the sellers, for a total of C$24 million. Cieffe's founder and CEO will assume the administrative direction of March's european operations and lead the firm's growth in the Europe, Middle East and Africa region.