Thursday, March 19, 2009

Hirsch Gets Approval On Merger

Santa Ana-based security systems manufacturer Hirsch Electronics Corp. announced this morning that its shareholders have approved a proposed merger with SCM Microsystems. According to Hirsch, its shareholders adopted an agreement and plan of merger dated Dec. 10 of last year between Hirsch, SCM and a pair of wholly owned SCM subsidiaries that would result in Hirsch becoming a U.S.-based SCM subsidiary. Headquartered nationally in Fremont and internationally in Ismaning, Germany, SCM Microsystems produces a range of smart card readers, terminals and digital media readers. Once the merger has closed, Hirsch added, its products and services will continue to be marketed and sold under the Hirsch Electronics brand.

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