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ASSA ABLOY'S HID Global Corporation to Acquire Fargo Electronics Inc.; Acquisition Expands Opportunities for Both Companies in Secure Card Issuance and Electronic Access Control.

Article Excerpt
MINNEAPOLIS -- 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 Hebert, 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.

"We value the opportunity to partner with the organization that has created a position of innovation and leadership in...

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