Diebold Acquires German Rival Wincor Nixdorf for $1.8B in Cash-And-Share Deal
Diebold sold its North America-based electronic security business to Securitas for $350 million in October.
United States automated teller machine maker Diebold said on Monday it has agreed to acquire German rival Wincor Nixdorf in a cash-and-share deal.
The transaction values Wincor Cixdort (WIN) at around $1.8 billion, including debt, according to the two companies. The deal will result in around $160 million in annual cash savings.
Four weeks ago, Diebold sold its North America-based electronic security business to Securitas for approximately $350 million.
“Our new company will be well positioned for growth in high-value services and software — particularly in the areas of managed services, branch automation, mobile and omnichannel solutions — across a broader customer base,” said Andy W. Mattes, Diebold president and chief executive officer, in a release.
The move also comes more than four weeks after Diebold and Wincor announced they had entered into a nonbinding agreement that would combine the industry’s No. 2 and No. 3 companies by revenue.
“The combination of Diebold and Wincor Nixdorf is an exciting opportunity for both companies to shape the future of banking and retail solutions,” Eckard Heidloff, CEO of Wincor Nixdorf, said in a release.
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!