March Networks Completes Acquisition of Cieffe S.p.A.



    OTTAWA, March 31 /CNW Telbec/ - March Networks(TM) (TSX:MN; AIM:MNW), a
leading provider of intelligent IP video and business analysis applications,
announced today that it has completed the acquisition of Cieffe S.p.A. and its
related company, Insignis Technologies S.r.l. Cieffe, based in Milan, Italy,
develops high performance IP video surveillance solutions used by leading
European financial institutions and a number of high profile airport,
government and commercial industrial clients for mission-critical security
applications.
    The acquisition was completed in accordance with the definitive agreement
originally announced on January 30, 2008, with a payment of (euro)14.0 million
in cash plus the issuance of 1,019,252 March Networks common shares to the
vendors. Including acquisition expenses, the total cash consideration for the
acquisition will be approximately CAD 24 million plus any amounts paid in
respect of a two year revenue-based earn-out of up to (euro)10 million.
Cieffe's founder and CEO, Fabrizio Colciago, will continue as Managing
Director of March Networks' European operations and lead the ongoing growth of
the Company within the Europe, Middle East and Africa (EMEA) region.

    About March Networks

    March Networks(TM) (TSX:MN; AIM:MNW) is a leading provider of intelligent
IP video and business analysis applications that enable organizations to
reduce losses, mitigate risks and improve security and operational efficiency.
The Company's advanced software suite includes enterprise-class video
management, powerful analytics and comprehensive managed and professional
services. Our software and systems are used by leading financial institutions,
retailers, transportation authorities and other organizations in more than
50 countries. For more information, please visit www.marchnetworks.com.

    Forward-Looking Statements

    This release contains certain forward-looking information or statements.
These statements are not historical facts but reflect the Company's current
expectations and assumptions regarding future results or events. The
assumptions and expectations are subject to a variety of risks and
uncertainties that are difficult to predict, that may be beyond March
Networks' control, and that may cause actual results or events to differ
materially from those expressed in the forward-looking statements. The
expectations, assumptions and risks made in the preparation of or relating to
the forward-looking information and statements include, but are not limited
to, certain assumptions of future business following the consummation of the
acquisition, March Networks' ability to achieve the expected synergies as a
result of the acquisition, the strengthening of March Networks' position in
the EMEA and commercial industrial markets as a result of the acquisition and
the expected timing of the closing of the acquisition by the end of March,
2008. Actual results could differ materially from those expressed in any
forward-looking statements due to risk factors such as (1) the integration of
the Cieffe business and employees into March Networks and the achievement of
expected synergies, (2) the ability of March Networks' to retain key employees
of the acquired business, (3) the ability of March Networks' to compete
successfully in a highly competitive and rapidly changing IP video
surveillance market, and (4) the accuracy of the Company's forecasting of
acquisition-related restructuring costs, allocation of the purchase price to
intellectual property, goodwill and other acquisition related inventory, and
other asset adjustments. These and other risks and factors are identified in
March Networks' public filings with regulatory authorities in Canada which can
be accessed at www.sedar.com. March Networks assumes no obligation to update
these forward-looking statements as a result of new information or future
events.

    (*)MARCH NETWORKS and the MARCH NETWORKS logo are trademarks of March
Networks Corporation. All other trademarks are the property of their
respective owners.




For further information:

For further information: Peter Wilenius, Vice President, Corporate
Development, March Networks Corporation, (613) 591-8181,
pwilenius@marchnetworks.com

Organization Profile

March Networks Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890