BBP’s parent company, Paragon, a leading provider of technology-driven business solutions across Europe and globally, has announced the acquisition for an undisclosed sum, of the trade and assets of Magnadata International Ltd (Magnadata), which was placed into administration on Thursday 30th July.
Magnadata, based in Lincolnshire UK, with offices in USA and Australia, specialises in the development and manufacture of security and access control media including magnetic and smart tickets and tags. Following the acquisition, Magnadata will become a trading division of BBP.
The addition of Magnadata will secure BBP’s position as a major magnetic, thermal and RFID ticket & card provider globally, within the parking and mass transit sectors, reinforcing its commitment to expanding Paragon’s Access Control and Traceability Solutions Division in Europe and North America, increasing this division to revenues in excess of €75 million.
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