SAT-TEL [Toronto: SAJ] and IROC Systems [Toronto: IRC] have received shareholder approval to merge the two companies based in Red Deer, Alberta. Financial terms were not disclosed.
SAT-TEL specializes in the integration of wireless and satellite technologies to deliver connectivity solutions for specialized markets. IROC Systems provides integrated safety services company that has provided downwind air quality monitoring and related safety services to the energy sector.
Upon completion of the merger, the combined entity’s shares will be traded on the Toronto Stock Exchange under the symbol “ICS.” The merger is subject to regulatory approval by Industry Canada.
