NORTH CANTON, Ohio,
Feb. 1, 2016 /PRNewswire/
-- Diebold, Incorporated (NYSE: DBD) today announced it has
completed the previously disclosed agreement to sell its
North America-based electronic
security business to Securitas AB. Securitas agreed to
acquire the business from Diebold for a purchase price of
approximately $350 million, 10
percent of which is contingent on the successful transfer of
certain customer relationships to Securitas.
The acquired business will operate under the company name
Securitas, with the brand transition from Diebold planned to be
complete by the end of 2016. The companies also agreed to a
strategic business alliance in which Securitas will serve as
Diebold's preferred supplier for electronic security solutions in
North America, and Diebold will be
Securitas' preferred provider of ATM-related solutions and
services.
In addition, as part of the transaction Diebold and Securitas
have entered into a transition services agreement (TSA) to ensure a
seamless customer experience. Effective immediately, the TSA
period is 12 months and provides Securitas the ability to leverage
existing Diebold services, systems and physical assets to fully
support its customers during the transition.
"We are pleased to finalize the divestiture of our North America electronic security business,
marking an important milestone in Diebold's transformation and
allowing us to better focus our efforts and resources," said
Andy W. Mattes, Diebold president
and chief executive officer. "After having many customer
meetings together with Securitas in recent weeks, we are very
excited about what the future holds for our companies. I want
to thank all 1,100 employees of Diebold Electronic Security and its
leadership team for their continued dedication and commitment to
our customers. This is also an important component of the financing
for our pending business combination with Wincor Nixdorf."
About Securitas
Securitas is a global knowledge
leader in security. From a broad range of services of specialized
guarding, technology solutions and consulting and investigations,
we customize offerings that are suited to the individual customer's
needs, in order to deliver the most effective security solutions.
Everywhere from small stores to airports, our 320,000 employees are
making a difference.
More information on Securitas can be found at www.securitas.com.
About Diebold
Diebold, Incorporated (NYSE: DBD)
provides the technology, software and services that connect people
around the world with their money – bridging the physical and
digital worlds of cash conveniently, securely and
efficiently. Since its founding in 1859, Diebold has evolved
to become a leading provider of exceptional self-service
innovation, security and services to financial, commercial, retail
and other markets.
Diebold has approximately 15,000 employees worldwide and is
headquartered near Canton, Ohio,
USA. Visit Diebold at www.diebold.com or on Twitter:
http://twitter.com/DieboldInc.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements can generally
be identified as forward-looking because they include words such as
"believes," "anticipates," "expects," "could," "should" or words of
similar meaning. Statements that describe the company's future
plans, objectives or goals are also forward-looking statements.
Forward-looking statements are subject to assumptions, risks and
uncertainties that may cause actual results to differ materially
from those contemplated by such forward-looking statements. The
factors that may affect the company's results include, among
others: the company's ability to realize any of the contingent
purchase price consideration; the success of the company's
strategic business alliance with Securitas; the impact of market
and economic conditions on the financial services industry; the
capacity of the company's technology to keep pace with a rapidly
evolving marketplace; pricing and other actions by competitors; the
impact of the company's strategic initiatives; and other factors
included in the company's filings with the SEC, including its
Annual Report on Form 10-K for the year ended December 31, 2014 and in other documents that the
company files with the SEC. You should consider these factors
carefully in evaluating forward-looking statements and are
cautioned not to place undue reliance on such statements. The
company assumes no obligation to update any forward-looking
statements, which speak only as of the date of this press
release.
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SOURCE Diebold, Incorporated