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Nasdaq:FRGO
Fargo
Electronics, Inc. is a developer, manufacturer and supplier of desktop
systems that personalize plastic identification cards by printing images
and text onto the cards, laminating them and electronically encoding them
with information.
Fargo
Electronics, Inc. est un developpeur, un fabricant et un fournisseur de
systèmes de bureau qui personnalisent les cartes d'identification
en plastique par les images et le texte d'impression sur les cartes, les
stratifiant et électroniquement les codant avec l'information
ASSA
ABLOY’S HID Global Corporation to Acquire Fargo Electronics Inc.
Minneapolis, MN (May 23,
2006) – Fargo Electronics, Inc. (NASDAQ: FRGO) announced today that its
board has voted unanimously to enter into a definitive merger agreement
to be acquired by ASSA ABLOY’S HID Global Corporation in exchange for an
all-cash consideration of $25.50 per share. The transaction is expected
to close at the end of the third quarter, subject to stockholder and regulatory
approval. The offer is not subject to any financing contingency.
The acquisition is a result
of a long-standing relationship between the two security solutions companies
and their decision to jointly pursue opportunities in the secure identification
field. “We believe that we are now positioned as a leader in the rapidly
growing market for secure issuance of corporate and national ID credentials.
The combined organizations create the foundation to assure that materials
are secure, that the process of issuing a credential is not subject to
fraud, and that the resulting product is highly tamper-proof,” stated Denis
Hébert, president and CEO of HID Global. Controlled access to materials,
intelligent hardware that notifies authorities of misuse, and other enhanced
process security features will set a new standard for performance in the
industry.
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