Jan. 25, 2008 -- Investment firm The Halifax Group has purchased North American Video (NAV), a top security systems integrator known best for its work in the gaming/casino industry. Terms of the purchase, which were announced Jan. 24, 2008, were not revealed.
The acquisition leaves Cynthia Freschi, CEO and founder of NAV, with a stake in NAV, and she will remain with the firm, serving in senior management.
"Our partnership with Halifax will accelerate North American Video's continued growth and expansion into new security markets while providing enhanced services and support for both existing and new clientele," said Freschi.
Freschi said that the buyout would not effect the NAV personnel or the company's operations.
According to Jud Hill, managing director of Halifax, the investment buyout gives Halifax a chance to further help take NAV global and expand into additional markets. NAV recently opened an office in Macau, giving the company a foothold in the Asia-Pacific market.
"Halifax views NAV as a unique investment, not only because of the intrinsic potential in NAV's current lines of business in the gaming industry, but also, because of the growth opportunities in new markets that include homeland security, education and financial services," Hall said. "Working closely with Cynthia Freschi and her management team, we look forward to implementing an exciting plan for continued growth."