VERNON HILLS, Ill. and EDEN PRAIRIE, Minn., Jan. 9 – Zebra Technologies Corporation (Nasdaq: ZBRA) and Fargo Electronics, Inc.,
(Nasdaq: FRGO) today announced the continued extension of Zebra’s tender offer for all outstanding shares of common stock (including associated rights to purchase preferred stock) of Fargo for $7.25 per share in cash. The tender offer is now extended to 5:00 PM, New York City time, on January 24, 2002. The extension is necessary, because the applicable Hart-Scott-Rodino antitrust review waiting period has yet to expire or be terminated. The tender offer commenced on August 3, 2001, and was most recently scheduled to expire at 5:00 PM, New York City time, on January 9, 2002.
Zebra intends to extend the offer at least until expiration or termination of the Hart-Scott-Rodino antitrust review waiting period, subject to the provisions of the acquisition agreement. Pursuant to the acquisition agreement signed by Zebra and Fargo, the tender offer will generally be extended in increments of 10 business days.
As of Noon New York City time on January 9, 2002, 9,953,916 shares of
Fargo common stock (including guaranteed deliveries) had been tendered. These shares represent 84.5% of total shares outstanding.
This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Fargo common stock. All stockholders should read the tender offer statement, as amended (including the offer to purchase, a related letter of transmittal and other offer documents), that was filed with the SEC by Zebra, and the solicitation/recommendation statement that was filed with the SEC by Fargo. These statements contain important information that stockholders should consider before making any decision regarding tendering
their shares. Stockholders are able to obtain these statements, as well as other filings containing information about Zebra and Fargo, without charge, at the SEC’s Web site http://www.sec.gov . Stockholders are also able to obtain copies of these documents, at no charge, by contacting Zebra’s information agent, Mellon Investor Services LLC, at (800) 261-8056. Copies of these documents may also be obtained, at no charge, by directing such requests to Zebra’s Chief Financial Officer at (847) 793-6730.
Fargo Electronics, Inc., is the world’s leader in innovative technologies for desktop plastic card personalization systems. Fargo printing systems create personalized plastic identification cards complete with digital images and text, lamination, and electronically encoded information. More than 50,000 Fargo systems are currently installed throughout the U.S. and in over 100 other countries. For more information, visit Fargo’s Web site at http://www.fargo.com .
Zebra Technologies Corporation manufactures and distributes Zebra-brand
on-demand thermal bar code label printers and Eltron(R)-brand plastic card printers used in automatic identification, personalization and security applications worldwide. The company, with an installed base of more than two million printers, also offers software and related supplies, including more than 1,000 label and ribbon combinations. Zebra’s customers include more than 70 percent of the FORTUNE 500. Information about Zebra Technologies Corporation can be found at http://www.zebracorporation.com .
CONTACT: Charles R. Whitchurch, Chief Financial Officer of Zebra
Technologies Corporation, +1-847-634-6700, fax, +1-847-821-2545, or Paul Stephenson, Chief Financial Officer of Fargo Electronics, Inc.,
+1-952-946-6330, fax, +1-952-941-7836.
SOURCE Zebra Technologies Corporation
Web Site: http://www.zebracorporation.com