Ultra completes divestment of ID cards business to LDC
23 AUGUST 2016
Further to the announcement made on 27 May 2016, Ultra is pleased to confirm that the divestment of its global ID cards business to private equity firm LDC, for a cash consideration of £22m, has now received US regulatory approval and the transaction has been completed.
Following the divestment Ultra Electronics ID will operate as Magicard Ltd.
Rakesh Sharma, Chief Executive
Amitabh Sharma, Group Finance Director
020 8813 4307
Susan McErlain, Corporate Affairs Director
07836 522 722
James White, MHP Communications
020 3128 8756