Global Retailer Expands March Networks Footprint in $1 Million Deal
Jan 18, 2012, 09:00 ET
OTTAWA, Jan. 18, 2012 /PRNewswire/ - March Networks® (TSX: MN), a global provider of intelligent IP video solutions, announced today that a major retail customer has selected its retail solution to replace analog-based CCTV technology in select U.S. stores. The order expands the customer's existing March Networks digital video network, which currently includes more than 30,000 recording systems and software and is thought to be one of the largest video surveillance installations worldwide. March Networks will complete delivery of the solution, valued at $1 million, by January 31, 2012.
"We are pleased to have one of the world's largest corporations demonstrate continued confidence in our company and our ability to deliver on large, complex projects," said Peter Strom, President and CEO, March Networks. "We look forward to continuing to partner with this customer to meet future expansion plans and develop innovative, industry-leading retail solutions."
The new deployment is in addition to a previously announced $16 million network video recorder (NVR) order from the retailer as part of a continuing surveillance upgrade program across its U.S. stores and membership warehouses.
The retailer's March Networks solution includes powerful Visual Intelligence software and hybrid 4000 C Series NVRs. The software supports key features, such as consolidated live monitoring and archive searching, and rapid access to high-quality video evidence from any networked location. Incorporating an innovative docking station design (watch the video), the NVRs are easy to install and service - ultimately saving the retailer substantial maintenance costs. The popularity of the hybrid recorders was recently confirmed by IMS Research, which recognized March Networks as the #1 supplier of enterprise digital video recorders in the Americas.
About March Networks
March Networks® (TSX:MN) is a leading provider of intelligent IP video solutions. For more than a decade, the company has helped some of the world's largest commercial and government organizations transition from traditional CCTV to advanced surveillance technologies used for security, loss prevention, risk mitigation and operational efficiency. Its highly scalable and easy to use Command™ video management platform incorporates a web-based client interface to enable rapid system deployment and complete system control. It is complemented by the company's portfolio of high-definition IP cameras, encoders, video analytics and hybrid recorders, 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 which may delay the recognition of revenue, changes in the budgets for, and timing of security and IT-related purchases, delays, reductions in the amount or cancellations of customer purchases, including delays caused by customer credit issues, the Company's ability to maintain existing relationships and to create new relationships with channel partners, increased levels of competition, including strategic initiatives by the Company's competitors, new products or services, product or service announcements and changes in pricing policy by the Company's competitors, technological changes and the successful development of new products, dependence on third-party manufacturers and the availability of products and components, 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 trademarks of March Networks Corporation. All other trademarks are the property of their respective owners.
SOURCE MARCH NETWORKS CORPORATION
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