Ontario-based video surveillance firm March Networks has announced that it has completed the process of acquiring Trax Retail Solutions.
The acquisition, which cost an estimated $7.8 million, adds a complement of enterprise retail software used for loss prevention and store operations to March's existing line of video surveillance recording systems.
The acquisition, which was originally announced in early June at the National Retail Federation conference, allows March Networks to be a powerhouse in the retail operations and loss prevention space. The two companies had previously worked together such that March Networks' IP-based video systems could interface directly with Trax's store operations software, linking the recorded video directly to POS data.
Upon the original announcement of the acquisition, Peter Strom, March Networks' president, said the merging of Trax into March Networks allows March to move far beyond simply selling video to the retail sector, and instead begin to offer true "video-based business optimization solutions".
March Networks is online at www.marchnetworks.com.