Under the agreement, which is subject to stockholder and regulatory approval, SAFLINK will acquire all outstanding shares of SSP-Litronic in a stock-for-stock transaction.
"Similar to what we've seen with the convergence of logical and physical biometric technologies, many security analysts and experts have anticipated that a combination of biometrics, smart cards and PKI would ultimately be required to address enterprise security needs," Glenn Argenbright, SAFLINK CEO, said in a prepared statement.
"SSP-Litronic provides the most secure and scalable smart card and PKI technology available today for integration with our software products... together we will deliver on the promise of biometrics, smart cards and PKI integration," he added.
The merger builds on SAFLINK's acquisition of physical security technology from Biometrics Solutions Group (BSG) in December. When the merger is completed, SSP-Litronic will operate as a wholly-owned subsidiary of SAFLINK.
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