SCM and Hirsch to merge
There's news out on the wire that SCM Microsystems, a logical access manufacturer, and Hirsch Electronics, a physical access manufacturer, are merging. They kept the numbers out of the press release, but the SEC filing makes it look like a $30 million acquisition of Hirsch by SCM, with Hirsch shareholders acquiring another $14.1 million worth of warrants to buy more SCM stock at $3 a share, which is about double the price it's trading at right now on NASDAQ. I'm looking to grab some interviews on this as we speak. My initial impression is that this is a cool move for both companies, and with all the real talk I've been hearing lately about physical and logical access convergence getting almost easy to accomplish, it seems like a good business decision, too. Though IP video might get more attention, the applications for IP-based access control solve a lot of real-world problems and people sure do hate having to carry around gobs of cards for access to different servers and locations.