OTTAWA, March 29 /PRNewswire/ - March Networks® (TSX: MN), a global provider of intelligent IP video solutions, today announced that a top ten global financial institution has selected the company's Financial Solution for multiple new banking branches and planned branch upgrades in a deal worth $3.5 million. The deployment will bring the bank's total March Networks installation to more than 7,000 sites - all centrally managed with the company's powerful Enterprise Service Manager software. The systems are expected to be in place by the end of 2011.
The financial institution continues to standardize on the solution for its proven reliability, unparalleled scalability and high-quality video evidence. In addition, March Networks' management software provides advanced health monitoring and maintenance capabilities that make it easy for the bank to maintain optimum system performance across its extensive surveillance network.
Currently used by more than 400 financial institutions and credit unions worldwide, March Networks' systems work seamlessly with the company's portfolio of high-definition IP cameras, as well as multiple third-party IP or analog cameras. They also include a range of innovative fraud detection applications, such as Financial Transaction Investigation and Searchlight Skimming Detection for ATMs, which can cut investigation times and losses significantly. Additionally, video analytics such as scene verification and queue line monitoring allow banks to increase security, customer satisfaction and overall efficiency through improved operations.
"Our financial solutions combine intelligent applications with exceptional reliability and video management to improve security and increase return on investment," said Net Payne, Chief Marketing Officer, March Networks. "They remain the solution of choice for banks worldwide, who value their enterprise-class capabilities as well as our relentless focus on delivering a leading-edge financial product set, such as our new Command software, that provides an end-to-end IP migration path as customers are ready to make the transition."
About March Networks
March Networks® (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®, 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, March Networks Command 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