Stockholders of SCM Microsystems, Inc. a provider of secure access and identity solutions, have approved a 20 million share increase to the number of common shares authorized under the company’s certificate of incorporation, paving the way for SCM to continue to pursue mergers and acquisitions, which, the company says, are an important component of its growth strategy.
Securing approval for these share increases enables SCM to take a more active role in shaping the identity management and contactless markets through investments, consolidation with other providers and active promotion of the development of solutions that will enable these markets to grow.
At its annual meeting this week, stockholders also approved a two million share increase in the number of shares reserved for issuance under the Company’s 2007 Stock Option Plan.
“We are pleased that our stockholders have demonstrated their support for our growth strategy,” said SCM’s CEO Felix Marx. “The increase in our capital stock gives us more options in negotiating additional acquisitions and other transactions with attractive companies in our markets.”