Assa Abloy completes acquisition of LaserCard

Assa Abloy and LaserCard announced the successful completion of Assa Abloys acquisition of LaserCard for USD 6.25 per share in cash. Assa Abloy completed the acquisition through a tender offer and subsequent merger of a wholly-owned subsidiary of Assa Abloy into LaserCard. LaserCard is now a wholly-owned subsidiary of Assa Abloy.

As of the close of business of January 28, 2011, Assa Abloy had acquired over 90% of the outstanding shares of LaserCard based on the acceptance of shares tendered to date and the exercise of its option, under the terms of the merger agreement, to purchase additional shares directly from LaserCard sufficient to give Assa Abloy ownership of more than 90% of LaserCards outstanding shares, when combined with the shares purchased by Assa Abloy in the tender offer. As a result of the merger, each outstanding share of LaserCard common stock not validly tendered and accepted for payment in the tender offer (other than any shares in respect of which appraisal rights are validly exercised under Delaware law and any shares owned by LaserCard, ASSA ABLOY or any of their subsidiaries) was converted into the right to receive the same US$6.25 cash per share price paid in the tender offer. Effective after the close of market today, trading in LaserCard common stock on the Nasdaq Global Market will cease.