HID Global to acquire Fargo Electronics

BANGALORE: ASSA ABLOY's HID Global Corporation has entered into a

definitive agreement to acquire Fargo Electronics Inc. for an all cash

consideration.

The transaction is expected to close at the end of the third quarter, subject

to Fargo stockholder and regulatory approvals.

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 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 guarantee 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.

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.

Fargo is a provider in the development of secure technologies for identity

card issuance systems, including secure card printer/encoders, materials and

software. HID is a supplier of contactless access control cards and readers, and

other security products for corporations and governments.

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