Minneapolis, MN (June 22, 2006) – Fargo Electronics, Inc. (NASDAQ: FRGO) announced that the staff of the Federal Trade Commission has informed Fargo Electronics Inc. that it will grant Fargo the early termination of the Hart Scott Rodino Act waiting period, thus ending its review of the proposed merger between Fargo and ASSA ABLOY’s HID Global Corporation, which was announced on May 23, 2006. The period was to expire at midnight on June 26, 2006.
The merger is also subject to antitrust filing periods in certain foreign countries, which periods are expected to expire prior to Fargo’s Shareholder Meeting to be held on August 3, 2006, unless extended by the authorities in those countries.
Important Merger Information
In connection with the proposed merger, Fargo will file a definitive proxy statement with the U.S. Securities and Exchange Commission, or SEC. Investors are advised to read the definitive proxy statement when it becomes available because it will contain important information about the merger and Fargo. Investors may obtain a free copy of the definitive proxy statement (when available) and other documents filed by Fargo with the SEC at the SEC’s web site at http://www.sec.gov. Free copies of the definitive proxy statement, once available, and Fargo’s other filings with the SEC may also be obtained from Fargo at www.fargo.com. Free copies of Fargo’s filings may be obtained by directing a written request to Fargo Electronics, Inc., 6533 Flying Cloud Drive, Eden Prairie, Minnesota 55344, Attention: Paul Stephenson.
Fargo and its directors, executive officers and other members of its management may be deemed to be soliciting proxies from Fargo’s stockholders in favor of the merger. Investors and stockholders may obtain more detailed information regarding the direct and indirect interests of Fargo’s executive officers and directors in the merger by reading the preliminary and definitive proxy statements regarding the merger, which will be filed with the SEC. These documents will be available free of charge when available at the SEC’s web site at www.sec.gov or by directing a request to Fargo as described above.
Founded in 1974, Fargo Electronics 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, MN., Fargo markets its products through a global distribution network of professional security integrators.