OTTAWA, Oct. 20 /CNW Telbec/ - March Networks(R) (TSX: MN), a global provider of intelligent IP video solutions, announced today that it has been ranked as one of the top 500 fastest-growing technology companies in North America in the 2009 Deloitte Technology Fast 500(TM) listing, posting a remarkable 700 percent growth in revenue over four years.
March Networks placed 194th in the North American listing with sales of $94 million in fiscal 2008 compared to $12 million in fiscal 2004. It achieved a further milestone in its most recent 2009 fiscal year by surpassing $100 million in revenue.
The company continues to win market share in the rapidly growing market for IP video surveillance with an enterprise-class product portfolio that enables organizations to enhance security, combat theft and fraud, and address liability risks. In North America alone, its customers include three of the five largest U.S. financial institutions, eight of the top 100 American retailers, two of Canada's leading banks, and seven of 20 major transportation agencies serving metropolitan centers such as San Francisco and Toronto.
March Networks is headquartered in Ottawa, Ontario. It continues to expand its global presence with newly-opened offices in Dubai, United Arab Emirates and Sydney, Australia, in addition to continuing operations in the U.S., Europe and Latin America.
"The Fast 500 award reflects our company's success delivering innovative IP video management solutions to commercial and government organizations worldwide," said Peter Strom, President and CEO, March Networks. "We are pleased to be counted as one of North America's technology leaders and attribute this achievement to the outstanding work of our employees, as well as the strength of our technology and distribution partners."
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(TM), 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 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: Peter Wilenius, March Networks Corporation, (613) 591-8181, firstname.lastname@example.org