Standard Logic Merger: Standard Logic Inc., an...

Standard Logic Merger: Standard Logic Inc., an Anaheim manufacturer of electronic packaging devices for the military, said Monday that its shareholders have approved a merger with Appoint Inc., a manufacturer of computer pointing devices in a stock swap valued at about $4 million. Upon final regulatory approval, Standard Logic Chairman Wes Baumgardner would become chairman of the combined company, and Joseph C. Picken, president of Appoint in Paso Robles, is expected to become chief executive. Jack Barrett, chairman of Appoint, will become secretary and vice chairman. The combined company will be renamed Appoint Technologies Inc. Appoint makes pointing devices, such as computer mice. Appoint Technologies is expected to have a combined total of 55 employees. Shares of the merged company, which will be based in Paso Robles, will trade on the National Assn. of Securities Dealers’ Automated Quotation System under the symbol APNT. Barrett said there are no immediate plans to lay off or relocate employees. Under the deal, Standard Logic loaned $1.2 million to Appoint for working capital. It also issued 4.3 million shares of Standard Logic stock to Appoint, whose shareholders will own 45% of the combined company. Standard Logic will acquire the outstanding shares of stock through a financing company, Renaissance Capital Partners, which will loan $3 million to Standard Logic.