3M and AiT Merge Security-Related Business

On July 19, 2002, 3M Company in St. Paul Minnesota and TSX-listed AiT Advanced Information Technologies Corporation in Ottawa concluded the merger of their security-related businesses. The transaction was effected by way of an amalgamation of a wholly owned subsidiary of 3M Canada Company and AiT, with AiT shareholders receiving aggregate consideration of $42 million. The merger combines the global presence and brand recognition of 3M’s diversified technology businesses with AiT, a recognized world leader in the traveler ID business specializing in issuance systems for secure ID and travel documents.

The 3M legal team was led by in-house counsel Marlene McGrath and Kimberly Price, with assistance from Goodmans LLP with a team consisting of Jonathan Lampe, neil Sheehy, David Sherman, Neil Harris and Carrie Smit. AiT was represented by Debbie Weinstein, Michael Dunleavy and Shane McLean of LaBarge Weinstein in Ottawa.