Close of Acquisition
July 14 2006 - 9:30AM
RNS Non-Regulatory
March Networks Corporation
14 July 2006
For Immediate Release 14 July 2006
March Networks
March Networks Completes Acquisition of Trax Retail Solutions
OTTAWA, ONTARIO, July 14, 2006 -- March NetworksTM (TSX:MN; AIM:MNW), a leading
provider of Internet Protocol (IP)-based digital video surveillance solutions,
announced today that it has completed the acquisition of certain assets of Trax
Retail Solutions, Inc. and its affiliated company. Trax is a leading provider of
enterprise software for loss prevention, store operations control and profit
optimization solutions within the retail sector.
The acquisition of Trax, originally announced on June 6, 2006, was completed for
approximately $7.8 million of cash and assumed liabilities, plus an earn-out
component.
About March Networks
March NetworksTM (TSX:MN; AIM:MNW) is a leading provider of innovative IP-based
video applications used for security surveillance and monitoring. Our software
and hardware solutions allow businesses to increase operational efficiencies,
address risk, and manage assets with an integrated set of video-based
intelligence tools that support enhanced decision-making. Today, we are ISO
9001:2000 certified and serve the needs of leading banks, retail organizations
and transportation authorities in more than 40 countries throughout the world.
For more information, please visit www.marchnetworks.com.
Forward-Looking Statements
This release contains certain forward-looking information which 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. The Company's expectations and assumptions include
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 and the strengthening of March Networks' position in
the retail vertical market as a result of the acquisition. Actual results could
differ materially from those expressed in any forward-looking statements due to
risk factors such as (1) the integration of the TRAX business and employees into
March Networks and the achievement of expected synergies, (2) 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, (3) the ability of March
Networks' to compete successfully in a highly competitive and rapidly changing
retail marketplace, and (4) the ability of March Networks' to retain key
employees of the acquired business. These and other risks and factors are
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 trademarks of March Networks
Corporation. All other trademarks are the property of their respective owners.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anil Dilawri, March Networks Corporation (613) 591-8181
e-mail: adilawri@marchnetworks.com
Buchanan Communications
Jeremy Garcia / James Strong 0207 466 5000
jeremyg@buchanan.uk.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRARIMMTMMTBBPF