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ID Data

  • BY: Andrew Hore |
  • POSTED: 16/10/2008 |

ID Data Group has asked for administrators to be appointed to its main subsidiary.

The smart card technology developer has been unable to raise the cash it needed for working capital.

ID Data had been pinning its long-term hopes on the UK National ID card. Management says the company has a strong order book and that there are interested buyers for the core business and the CardBASE subsidiary, which provides smart card and electronic purse management systems.

ID Data shares were suspended at 0.25p each on 25 September 2008. That valued the company at £3.33m.

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