Diebold Acquires IT Service Provider
NORTH CANTON, Ohio
Integration powerhouse Diebold Inc. has added to its capabilities by acquiring information technology (IT) service provider TFE Technology Holdings LLC. Based in Bountiful, Utah, TFE says it is one of the 10 largest third-party IT maintenance providers to government and commercial customers and is considered an alternative to service by original equipment manufacturers (OEMs).
“This strategic acquisition allows us to broaden our product and services offerings,” Bartholomew J. Frazzitta, vice president of Diebold’s Security Division, says in a statement. “The addition of TFE will enhance Diebold’s hardware and software capabilities by providing a total security solution that integrates everything from IT equipment and networking capabilities to support services.”
The terms of the acquisition, announced June 25, were not disclosed. TFE has 250 associates with operations in all 50 states, plus Puerto Rico and Guam, and generated revenue of approximately $34 million in 2003, according to Diebold.
As part of the deal, TFE President, CEO and Director John Walker will join Diebold and will continue to be responsible for TFE’s day-to-day operations. “We can provide Diebold with a specialized focus in specific areas of IT support, network infrastructure management and security,” Walker says.
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