Key hurdle falls for Nanotech, Meta merger

Shareholders in Canada's Nanotech Security Corp backed the company's $73m takeover by Meta Materials, first announced in August.

Almost all (98%) of investors approved the C$1.25 per share deal, setting the merger on course to complete next week, pending approval by the authorities in British Columbia where Nanotech is based, according to the two companies. The British Columbia Supreme Court is scheduled to discuss the transaction later today.

The deal will give Meta an immediate present in security features and brand protection, adding to its current focus on functional materials and nanocomposites for the electronics, health, aerospace, automotive and energy sectors based on technologies like holography, lithography and wireless sensing.

Both companies make nanostructured functional films, so have complementary expertise and technologies.