Creation of Paragon ID, a European leader for identification solutions for e-ID, Smart Cities and the Internet of Things.
Shareholders approve change of name at general meeting: ASK becomes Paragon ID
The ordinary and extraordinary shareholders’ meeting was held on Wednesday, December 13, 2017, and chaired by John Rogers, Chairman of the Board of Directors, and in the presence of the Auditors. During this meeting, the shareholders of the company have, amongst other decisions, adopted ASK’s new corporate name, which now becomes Paragon ID.
They have also ratified the appointment, by the Board of Directors, of John Rogers and Dominique Durant des Aulnois as executive directors.
The result of the votes for each of the 35 resolutions submitted for shareholders’ approval will be posted online on the Paragon ID website (www.paragon-rfid.com), in the Investor’s Area, General meetings section, in accordance with the law.
A new name to reflect new ambitions
Created following the merger between ASK and the Identification division of Paragon Group which took place at the end of April, Paragon ID is a European leader in identification solutions in the e-ID, transport & smart cities, and traceability & brand protection sectors. Using the latest technologies such as RFID and NFC, Paragon ID provides smart cards, tickets, labels and tags to worldwide clients in diverse markets including public transport, manufacturing, logistics, gaming and retail.
With more than 600 employees around the world, Paragon ID has a strong manufacturing base on three continents, with factories close to its global customers.
The operational reorganization, through the consolidation of industrial resources in France, the refocusing of the Sophia Antipolis site on R&D activities and the rise of the romanian industrial plant, is underway, and commercial synergies are already in place with our customers and prospects.
The objective of Paragon ID management is to build a champion of identification solutions, which will respond globally to the security and speed issues that their customers face, drawing on a unique technological expertise and a global industrial footprint.
Paragon ID has set itself the goal of achieving by 2021 a turnover of €250M and an EBITDA margin above 10%.
Julien Zuccarelli, Paragon ID CEO, says:
“The change of name marks the final step in the strategic alliance between ASK and Paragon Group’s Identification & Traceability Division. The new Paragon ID organisation is up and running to implement and deliver the stated objectives.”