Milanese buy

March Networks is acquiring Milan, Italy-based Cieffe S.p.A. and its related company Insignis Technologies S.r.l. for as much as $45 million in cash and March shares. The buyout will allow the Ottawa company to March%5B1%5D.jpgpenetrate deeper into Europe, the Middle East and Asia Pacific, where Cieffe markets its high performance IP video surveillance solutions to enterprise customers. “This is a strategic acquisition for March Networks that significantly strengthens our presence in the EMEA region as well as in the high-growth commercial industrial segment,” says Peter Strom, president and CEO, March Networks. “Cieffe’s innovative product portfolio complements March Networks’ existing solutions and enhances our position as a global supplier of comprehensive, open IP video management solutions.” The deal, expected to close by the end of March, would see Cieffe founder and CEO Fabrizio Colciago remain with company as managing director.

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