NEW YORK — The parent companies of Sielox (access control solutions) and Costar Video Systems (video and imaging products) have agreed to merge.
Dynabazaar Inc., which acquired Costar in June, has signed a definitive merger agreement with Sielox owner LQ Corp. Inc. Upon completion, LQ stockholders will hold approximately 34 percent of the combined company, and Dynabazaar stockholders approx. 66 percent.
Sebastian (Sam) Cassetta, president and CEO of LQ, will become president and CEO of the combined company, expected in the first half of 2007.
