CyberCash Completes Merger with ICVERIFY
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Under the terms of the merger, the shareholders of ICVERIFY received $16.15 million in cash and 2.3 million shares of CyberCash common stock. With the completion of the merger, ICVERIFY is now a wholly owned CyberCash subsidiary.
F. Thomas Aden will remain president and chief executive officer of ICVERIFY. In addition, he will serve as an executive vice president of CyberCash, reporting to Bill Melton, president and chief executive officer of CyberCash.
Steve Elefant, ICVERIFY co-founder and chairman, will become vice chairman of CyberCash. Eric Buchbinder, another ICVERIFY co-founder, will become senior vice president for Advanced Technology at CyberCash.