OTTAWA, July 22 /CNW Telbec/ - In contracts worth approximately $9 million, March Networks(R) (TSX: MN), a global provider of intelligent IP video solutions, today announced that one of the world's largest retailers is expanding its relationship with the company across its U.S. operations. The customer has placed orders to deploy March Networks' video management software and hybrid NVRs in new and existing store locations, as well as in its membership warehouse stores nationwide. In addition, it continues to upgrade its sizable installed base of March Networks systems. Delivery of the software and systems will commence during March Networks' current fiscal quarter.
Earlier this year, March Networks announced a $1 million professional services contract with the same customer. The annual contract for the company's Managed Video Network Services ensures the optimal performance of more than 27,000 March Networks systems currently deployed in the retailer's U.S. stores and distribution centers. The customer has also begun installations in selected sites outside of the U.S. to equip store managers and loss prevention investigators with high quality video that can be accessed easily from any networked location.
The new orders with this long-standing customer underscore the reliability, scalability and enterprise-class video management capabilities of the March Networks IP video solution. They also confirm the company's commitment to providing advanced IP video applications that enhance safety and security while reducing losses from theft and fraud, which cost U.S. retailers more than $30 billion annually.
"We are proud of our continuing involvement in one of the world's largest digital video implementations," said Peter Strom, President and CEO, March Networks. "Our ongoing relationship with this customer validates the high performance of our IP video solutions, as well as our ability to meet the video management requirements of large enterprise organizations worldwide."
About March Networks
March Networks(R) (TSX:MN) is a global provider of intelligent IP video solutions. For close to a decade, the company has helped some of the world's largest commercial and government organizations transition from traditional CCTV to networked video surveillance used for advanced security, loss prevention and risk mitigation. VideoSphere(R), the company's enterprise-class video management portfolio, includes open-platform VMS software complemented by high-definition IP cameras, encoders, video analytics and recording platforms, as well as outstanding professional and managed services. March Networks systems are delivered through an extensive distribution and partner network and currently support over one million channels of video in more than 50 countries. For more information, please visit www.marchnetworks.com.
This release contains certain forward-looking information, including expectations of future business. This information is based on the Company's current expectations and assumptions that are subject to a variety of risks and uncertainties that are difficult to predict and that may be beyond March Networks' control. Actual results could differ materially from those expressed in any forward-looking statements due to factors such as customer demand and timing of purchasing decisions, increased levels of competition, technological changes and the successful development of new products, dependence on third-party manufacturers, risks relating to intellectual property infringement claims, and other risks and factors identified in March Networks' public filings with regulatory authorities in Canada. 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 registered trademarks of March Networks Corporation. All other trademarks are the property of their respective owners.
SOURCE March Networks Corporation
For further information: For further information: Erica Miskew, March Networks, +1 613-591-8181 x5760, email@example.com