Fargo (NASDAQ:FRGO)
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From Jun 2019 to Jun 2024
Fargo Electronics, Inc. (NASDAQ:FRGO) announced that its
stockholders, voting at a special meeting today, have approved the
company's previously announced merger with a wholly owned subsidiary
of ASSA ABLOY's HID Global Corporation.
Under the terms of the merger agreement, stockholders of the
company will be entitled to receive $25.50 in cash for each share of
common stock. Citibank N.A. has been appointed the paying agent for
this transaction. The paying agent will send a letter of transmittal
to each former stockholder which will contain instructions for
obtaining cash in exchange for their shares. As a result of the
merger, Fargo's stock will no longer be traded on NASDAQ.
About Fargo
Founded in 1974, Fargo Electronics, Inc. is a global leader in the
development of secure technologies for identity card issuance systems,
including secure card printer/encoders, materials and software. The
company has sold more than 120,000 systems in the U.S. and over 80
other countries worldwide. Fargo card issuance systems reduce
vulnerabilities and potential for loss of time, money and lives by
continually improving the security of identity credentials. Fargo
provides physical, information, and transaction security for a wide
variety of applications and industries, including government,
corporate, national IDs, drivers' licenses, universities, schools and
membership. Based in Minneapolis, Minnesota, USA, Fargo markets its
products through a global distribution network of professional
security integrators.
About HID
HID is a leading supplier and manufacturer in the access control
industry, serving customers worldwide with proximity and contactless
smart card technologies; central station managed access controllers;
secure and custom card solutions; digital identity and photo card
management software solutions; and electronic cylinders. Headquartered
in Irvine, California, HID operates international offices that support
more than 100 countries and is a member of the ASSA ABLOY Global
Technologies Division. To learn more, please visit www.hidcorp.com.