Acquisition done

March Networks finalizes its $29-million acquisition of Italian rival Cieffe S.p.A. and subsidiary Insignis technologies S.r.l. March%5B1%5D.jpgThe Ottawa-based maker of IP-based video and business analysis applications is paying roughly $24 million in cash and 1.2 million in common shares for the two vendors, as well as considerations for revenues earned over a specified period. Cieffe's founder and CEO Fabrizio Colciago will serve as managing director of March Networks’s European operations and business in the Middle East and Africa. Milan-based Cieffe makes high-performance IP video surveillance solutions for mission-critical security applications.

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