ASSA ABLOY’s HID Global Corporation is acquiring US access control product firm Fargo Electronics, Inc.
The firms say the transaction is expected to close at the end of the third quarter, subject to Fargo stockholder and regulatory approvals. The firms add that the acquisition is a result of a long-standing relationship between the two security companies and their decision to jointly pursue opportunities in the secure identification field.
What they say
Denis Hébert, President and CEO of HID, said: “We are now positioned as a leader in the rapidly-growing market for secure issuance of corporate and national ID credentials. The combined organisations 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."
