Telepac is an electronic security systems provider with operations in Brazil and other locations worldwide. The company holds an estimated 30% share of the Brazilian banking security market, working with customers such as Caixa Econômica Federal, Banco do Brasil and HSBC. It will sell the solution under the Hisco brand in the country.
The March Networks solution enables financial institutions and other organisations to address risk, combat fraud and improve operational performance. It includes intelligent video management software, video and data analysis applications, and sophisticated recording platforms that support both analog and IP cameras.
"Expertise in security systems and an in-depth understanding of the requirements of our financial customers in Brazil are cornerstones of our success," said Florisvaldo Cardoso de Sá, President and CEO, Telepac Latin America. "March Networks shares our focus on proven technology and customer satisfaction and we look forward to working with them to deliver on that commitment."
Peter Strom, March Networks President and CEO, said "The transition to electronic security systems is in its early stages in Brazil, where only 5 percent of banks have implemented electronic security systems. We are pleased to be working with Telepac and expect the Brazilian market to be a significant contributor to revenue growth in fiscal year 2008."