Hirsch Electronics, a supplier of access control and security management solutions, announced its shareholders adopted the agreement and plan of merger dated Dec. 10, 2008, by Hirsch, SCM Microsystems, and two wholly-owned subsidiaries of SCM, pursuant to which Hirsch will become a U.S.-based, wholly-owned subsidiary of SCM.
Hirsch and SCM currently expect closing of the proposed merger to occur following satisfaction of all of the conditions to closing contained in the agreement and plan of merger, including the receipt of approval of SCM's stockholders to issued shares of SCM common stock and warrants to purchase shares of SCM common stock in connection with the proposed merger.
After the closing of the proposed merger, Hirsch products and services will continue to be marketed, sold and supported by Hirsch under the Hirsch Electronics company name.