The Extraordinary General Meeting of HamaTech AG yesterday approved the merger agreement concluded between HamaTech AG and SINGULUS TECHNOLOGIES on October 31, 2007.
According to the merger agreement, HamaTech shareholders will receive two SINGULUS shares for every nine HamaTech shares.
SINGULUS controls over 91 % of the nominal capital of HamaTech. The merger paves the way for the full operational integration of the two companies. The cost benefits will decisively boost the international competitiveness of the SINGULUS Group. The two companies are a good match because of their respective strengths in the various optical disc formats, and will now be able to offer their customers an extended product range and an enhanced service.
"The merger of SINGULUS and HamaTech is the basis for becoming the technology and market leader for all optical disc formats, and particularly for the new formats Blu-ray/HD DVD, for high-resolution (HDTV) television programmes," said Singulus in a statement.
The merger will take effect along with entry on the Commercial Register.