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Creation of a European leader in identification solutions

The shareholders of ASK (Euronext Paris - FR0011980077 - ASK), a specialist in secure contactless solutions, approved by 100% at its April 27th General Meeting the strategic merger of ASK with the Identification and Traceability division of the Paragon Group. Under the terms of the merger Paragon Group will contribute to ASK the shares of the companies making up the “Paragon Identification” division (PID), as previously announced on 26th October 2016. 

The combination of the two companies, as now agreed, results in the creation of a leader in the identification and traceability market, with strong industrial capacities in Europe, China and the USA. 

The two entities are already well recognised as market leaders in mass transit & access control sectors. The merging of teams of renowned industry experts, with approximately 600 employees worldwide, allows the group to further develop a comprehensive offer, based on all secure exchange technologies, embedded in all types of media including: passports, identity documents, smart tickets & labels, smart cards, smartphones and bank cards.

The new combined group has a turnover of approximately €110 million (on a proforma basis for the twelve months ending 30th June 2016) with around €80 million in sales in Europe, €20 million in the United States and €10 million in the rest of the world.  

This merger creates new opportunities for the future, with strong ambitions for development, both through organic and acquisitive growth, in new geographic areas and market sectors.

The company intends to change its name to Paragon ID. This new identity will be proposed to the vote during next General Assembly.

An investor meeting (SFAF), presenting the new combined group structure and its ambitions, will be held on Tuesday, May 16th 2017.

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