Shareholders Approve Identix-Visionics Merger

MINNETONKA, Minn.

On June 26 Identix Inc. announced it completed its merger
with Visionics Corp., effective June 25. In addition,
Identix shareholders approved the issuance of Identix
shares to holders of Visionics common stock in connection
with the merger.

The combined company will operate under the name Identix Inc. and will continue to trade under the ticker IDNX.

On June 24 Visionics shareholders also voted to approve the merger between the two companies. Visionics shareholders will receive 1.3436 newly issued shares of Identix common stock for each share of Visionics common stock. The merger will be accounted for under the pooling of interests method of accounting.

“We are gratified to receive such overwhelming support by our shareholders in approving this merger of two leaders in the biometric space, said Joseph Atick, newly appointed president and CEO of Indentix. Both companies have worked very diligently together to meet the aggressive closing schedule we laid out in February and I am extremely proud that we met our commitment to our shareholders to close this merger by the end of June.

The company will host an analyst briefing on Friday, June 28, beginning at 9 a.m. (EDT) to discuss the newly combined company. Atick and Identix CFO Erik Prusch are scheduled to speak at the briefing. During the call, the company plans to provide an update on pre- and post-merger integration activities.

Tagged with: Industry News News

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