* Infinova offering C$5 for each March Networks share
* Deal expected to close in Q4 2012
* March Network Q2 loss/shr C$0.13 vs Q2 EPS C$0.07, yr ago
Dec 9 Canada's March Networks Corp
, agreed to be bought by China's Infinova for
C$90.1 million ($88.63 million) in an all cash deal, as Infinova
looks to access the company's surveillance technology and expand
its customer base.
March Networks, which makes video surveillance equipment for
companies like Wal-Mart, said Infinova has offered it
C$5 per share, which is a 2.24 percent premium to March's
Thursday closing price.
The deal is expected to close in the fourth quarter of
fiscal 2012, the company said in a statement.
Separately, March Networks also announced its quarterly
financial results. For the second-quarter, the company reported
a loss of C$2.3 million, or 13 Canadian cents per share,
compared with earnings of C$1.2 million, or 7 Canadian cents per
share, a year ago.
Infinova, which manufactures security products like video
cameras and other surveillance and security equipment, is listed
on the Shenzen stock exchange.
Shares of March Networks closed at C$4.89 on Thursday on the
Toronto Stock Exchange.