Paragon ID SA acquired Business and Assets of Electronic Data Magnetics Inc. on September 24, 2021. Under the terms of the court-approved purchase, Paragon ID will also acquire EDM’s manufacturing facility. The acquisition was financed entirely in cash, from equity and from specific credit lines granted by Paragon ID’s shareholder Paragon Group. The Hallman family and existing Electronic Data Magnetics senior management will continue to run these operations, along with Paragon ID's senior U.S. management, through a newly crelated subsidiary (EDM Technology Inc.), which will be consolidated into Paragon ID's accounts as of October 1, 2021. Paragon ID SA complete the acquisition of Business and Assets of Electronic Data Magnetics Inc. on September 24, 2021.