EX-99.1
3
a06-17417_1ex99d1.htm
EX-99
EXHIBIT 99.1
Fargo Electronics, Inc.
6533 Flying Cloud Drive
Minneapolis, Minnesota 55344 USA
NEWS RELEASE
FOR IMMEDIATE RELEASE
FOR FURTHER INFORMATION:
Paul Stephenson
952-941-9470, ext. 142
E-mail: Paul.Stephenson@fargo.com
Fargo Electronics, Inc. Announces
Completion of Merger
with ASSA
ABLOY's HID Global Corporation
Minneapolis,
MN
(August 3, 2006) - 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.
# # #

EX - 99 . 1 3 a06 - 17417 _ 1ex99d1 . htm EX - 99 EXHIBIT 99 . 1 Fargo Electronics , Inc . 6533 Flying Cloud Drive Minneapolis , Minnesota 55344 USA NEWS RELEASE FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION : Paul Stephenson 952 - 941 - 9470 , ext . 142 E - mail : Paul.Stephenson@fargo.com Fargo Electronics , Inc . Announces Completion of Merger with ASSA ABLOY ' s HID Global Corporation Minneapolis , MN ( August 3 , 2006 ) - 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 con tactless 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 . # # #