May 26, 2006—HID Global Corporation has entered into a definite agreement to acquire Fargo Electronics, Inc., for an all cash consideration, says HID. 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.
HID is part of the Global Technologies Div. of AASA ABLOY Group, a leading locking solutions company of Sweden. Fargo Electronics is a leading provider in the development of secure technologies for identity card issuance systems, including secure card printer/encoders, materials, and software.
According to HID, “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.” The announcement also said that 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.
For more information, visit the HID Web site.
