Identity management solutions provider Intelli-Check has agreed to merge with Mobilisa, a research and development company specializing in wireless technology and applications.
As per the agreement, the two companies intend to proceed on the basis of a merger of equals. In return for all the assets, liabilities and equity of Mobilisa, Intelli-Check will be giving Mobilisa’s shareholders a number of shares equal to those held by Intelli-Check stockholders and Mobilisa’s option holders replacement options for those they now hold.
The consummation of the transaction is subject to the approval of the stockholders of Intelli-Check.
Upon merging, Dr Nelson Ludlow will become the CEO of Intelli-Check Mobilisa, while Peter Mundy will remain the CFO and Russ Embry will remain the chief technical officer. The board of directors will be composed of four members named by Mobilisa and four members named by Intelli-Check.
Dr Ludlow said: The synergistic benefits of combining our two companies’ personnel, products and technologies will make us a stronger company.