Company posts 700 percent revenue growth over four years
March Networks announced it was recognized as one of the top 50 fastest-growing technology companies in Canada in the 2009 Deloitte Technology Fast 50 listing. The ranking reflects the company's success establishing itself as a global leader in the rapidly growing market for intelligent IP video surveillance solutions.
In fiscal 2008, March Networks recorded sales of US$94 million, which represents 700 percent revenue growth since fiscal 2004. According to Deloitte, the company also ranks as one of the top five leading technology performers in the Ottawa-Carleton region, where the company is headquartered.
Building on its strong position providing networked video recording platforms to many of the world's largest financial, retail and transportation organizations, March Networks has dramatically expanded its addressable market through the development of an end-to-end portfolio of IP video management solutions. March Networks systems are used by leading organizations including Melbourne International Airport, US Bank, Wal-Mart, the Toronto Transit Commission, HSBC Mexico, the University of Amsterdam, the City of Florence and Ras Al Khaimah International Airport in the United Arab Emirates.
During the past three years, the company has also increased its global presence significantly by establishing new offices in Milan, Italy; Dubai, United Arab Emirates; and Sydney, Australia. This aggressive, geographic expansion contributed to the company attributing 45 percent of revenue to international sales in its most recent quarter.
“This award is really in recognition of the dedication and hard work of everyone at March Networks,” said Peter Strom, President and CEO, March Networks. “We are very proud of this award and the fact that we surpassed $100 million in sales in our most recent 2009 fiscal year. We remain committed to becoming the global leader in our industry.”