Identix, Visionics deal gets SEC OK
By Chelsie Woods
Updated Mon July 1, 2002
LOS GATOS, Calif. - Merger plans between biometric companies Identix and Visionics Corp. moved a step closer to being finalized. In late May the Securities and Exchange Commission completed its review of a joint proxy statement that was sent to shareholders for approval in June.
"The last regulatory hurdle has now been passed," said Damon Wright, director of investor relations and public relations for Identix. "All that's left is to go to the shareholder vote."
Shareholders were scheduled to vote on the deal after press time, with Visionics shareholders to vote on the deal June 24. Identix's shareholder meeting date was slated for June 25.
Wright anticipates the vote will go smoothly. "All of our institutional shareholders have been very enthusiastic regarding the merger," he said.
If the deal gets shareholder approval, it will create one of the single largest biometrics companies in the market today. The newly formed company will be called Identix, with its headquarters based in Minnetonka, Minn.
Damon said once shareholders give the okay, the two companies will continue the integration process.
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