Ottawa-Based High-Tech Company Expands to Halifax
Tuesday, May 27, 2008
Impath Networks Canada Corporation is the latest company to join Nova Scotia's growing high-tech sector. The Ottawa-based developer of video surveillance solutions is expanding its headquarters to Halifax.
The province, through Nova Scotia Business Inc. (NSBI), worked to secure Impath Network's head office relocation and is investing $2 million as the company expands in Nova Scotia.
"Impath Networks recognizes the value of doing business in Nova Scotia," said Angus MacIsaac, Minister of Economic Development. "The company's move and expansion in Halifax demonstrates that our innovative province is the ideal location for world class research and development."
The company is a provider of video surveillance solutions for markets including transportation systems, bridges and tunnels, government and military facilities, airports and seaports, city centres, border crossings, and correctional facilities.
"Our move to Halifax will enable Impath Networks to build and promote research and development in Nova Scotia," said Carlo Shimoon, CEO of Impath. "Nova Scotia's thriving high-tech sector offers more opportunities to grow our business."
NSBI Venture Capital, a division of NSBI, works closely with companies, providing capital, strategic direction, and advice to support growth in the province.
"NSBI Venture Capital is all about helping businesses in Nova Scotia reach their next level of growth, and we help leverage additional investment," said Stephen Lund, president and CEO of Nova Scotia Business Inc. "With GrowthWorks also at the table, our co-investment in Impath is a great example of just the kind of partnership NSBI is proud to help grow."
Venture Fund is also investing $1 million to support Impath Networks.
"One of the key focuses for us when choosing to make an investment in a company is the management team," says Tom Hayes, President and CEO of GrowthWorks Atlantic Venture Fund. "Along with great technology, Impath brings a solid management team which we believe can really drive the growth of this company."
Nova Scotia Business Inc. is Nova Scotia's private sector led business development agency. NSBI is the investment attraction arm of the province and helps companies in Nova Scotia meet their growth potential through business advisory, export development and financial services.
Venture Capital is a mid to late-stage investor focusing on Nova Scotia businesses in five key
sectors: information and communications technology, defence and aerospace, energy, advanced
manufacturing, and life sciences.