ATLANTA, GA / ACCESSWIRE / March 6, 2017 / Paragon Technologies, Inc. (OTC PINK: PGNT), a holding company, has acquired all of the outstanding stock of SED Colombia, S.A.S, a leading computer and technology systems distributor in Colombia and Latin America. SED Colombia will operate as a wholly owned subsidiary of Paragon.
We believe that SED Colombia's operations will have a material impact on the consolidated operations of Paragon.
"We are excited to have this interesting business as a wholly owned part of Paragon," said Hesham Gad, Chairman and CEO Paragon. "We believe that Paragon's unique operating structure with a business like SED Colombia to flourish for many, many years to come."
We will comment in greater detail on this acquisition in the Chairman's Annual Letter to Shareholders, which is expected to be out around June.
About Paragon Technologies
Paragon Technologies, Inc. is a holding company with diverse business activities. Paragon seeks to acquire or invest in other businesses in part or whole. These investment activities include the purchase of securities in accordance with the Company's investment policy and the complete acquisition of operating businesses. Our investment mandate is flexible, limited only by our focus on maximizing return on invested capital. Paragon's two wholly owned operating subsidiaries are SI Systems, Inc., a leading provider of material handling solutions that serve manufacturing operations and order fulfillment applications and SED Colombia, a leading technology distribution company in Latin America. Operating decisions for Paragon's operating businesses are made by the management of those businesses. All investment and capital allocation decisions under Paragon's investment policy are made by Sham Gad, Chairman and CEO of Paragon in consultation with Paragon's Board of Directors.
CONTACT: Hesham M. Gad, Chairman of the Board and CEO
This press release and prior releases are available at www.pgntgroup.com.
SOURCE: Paragon Technologies, Inc.