Impath Networks, a leader in the deployment of complex video networks, is set to expand their Nova Scotia operations significantly over the next year. The company, known for their video-over-IP network products is getting $2 million in investment from Nova Scotia Business Inc., as well as another $500,000 in financing from Growthworks Atlantic Venture Fund Ltd.
This investment by the province, is designed to propel Impath Networks into the international market. Bill Estabrooks, Minister of Economic and Rural Development said, “Targeted investments like this one are helping create good jobs and grow this province’s economy. Impath Networks is a great example of a company that is expanding into global markets as well as attracting and retaining talented people, which helps ensure our province remains competitive on a workd stage.”
Impath Networks specialize in video-over-IP from the design to product, hardware to software. Their technology has applications from bus/ferry terminals to prisons. Impath have shown that they’re a viable investment, so much so that this is the second $2 million that Nova Scotia Business Inc. have invested in the company (initial investment was in 2008).
Follow-on investments are common practice when business prove their worth the investment.