FTC to rule on Zebra/Fargo deal
EDEN PRAIRIE, Minn.-Nearly five months after first announcing plans to buy card manufacturer Fargo Electronics, Zebra Technology in December was still awaiting approval from the Federal Trade Commission.
"Both parties are committed to completing the deal," said Doug Fox, director of investor relations for Zebra.
Both companies hoped the proposed $86 million deal would close at the end of August. But shortly after the planned purchase was announced, which would more than double Zebra's plastic card printing business and enable it to tap into the high-end market that Fargo serves, the FTC requested more information under the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
The holdup, said Fox, seems to be that the issuance photo ID industry is a relatively young industry. "There's a variety of issues that they're looking at," he said, but was unable to elaborate further.