Taiwanese technology firm Delta has bought Canadian video surveillance provider March Networks for $114m to bolster its building automation business.

Delta specialises in power and thermal management products. Its board of directors has approved the purchase of 100% of the shares in March Networks from Infinova. The deal is expected to strengthen Delta’s presence in the video surveillance market and complement its building automation offering.

“Security being an integral element of smart cities is boosting the global demand for video surveillance technologies,” said Ping Cheng, Delta’s chief executive officer. “March Networks is a proven leader in providing end-to-end solutions to some of the world’s leading financial institutions, retailers, transit agencies and commercial customers. We are confident that the collaboration between March Networks and Delta will expand our overall market opportunity and increase Delta’s exposure to the growing video market beyond our surveillance subsidiary Vivotek. March Networks’ cloud-based video and business intelligence technologies set it apart and are also a perfect fit with our commitment to develop smart green solutions for a sustainable future.”

March Networks CEO Peter Strom added: “Delta’s financial strength and scale – with around $10bn in annual revenues, over 80,000 employees and deep M&A capability – will serve as an ideal platform for March Networks to accelerate its strategic plan of offering cloud-based video surveillance-as-a-service (VSaaS) and video-based business intelligence to enterprises worldwide.”

He said that March Networks’ customers and partners should expect no change to the products and services they’ve come to expect from March Networks as it embarks on its aggressive growth plans.

Following the closing of the transaction, it is expected that March Networks will continue to operate from its Canadian headquarters and the existing executive management team will continue to lead the organisation.

The closing of the transaction is subject to satisfaction of certain closing conditions such as regulatory approvals.

Delta, founded in 1971, specialises in switching power supplies and thermal management products with a portfolio of smart energy-saving systems in the fields of industrial automation, building automation, telecom power, data centre infrastructure, EV charging, renewable energy, energy storage and display. Delta serves customers through its sales offices, R&D centres and manufacturing facilities spread over close to 200 locations across five continents.

March Networks helps organisations transform video into business intelligence through the integration of surveillance video, analytics and data from business systems and IoT devices. Founded in 2000, March Networks is headquartered in Ottawa, Ontario, Canada.