Diebold finalizes Wincor Nixdorf merger

Diebold has completed its acquisition of German-based Wincor Nixdorf, creating the world’s largest ATM and financial services company.

Edd Prithard
Repository staff writer
August 15. 2016 9:09AM

GREEN, OH—Diebold announced Monday that it has completed its acquisition of Wincor Nixdorf.

The $1.8 billion deal creates the world’s largest financial self services and automatic teller machine company. It will begin operating as Diebold Nixdorf on Tuesday.

“We’re giving this company an incredible future,” Andy Mattes, president and chief executive officer, told Diebold employees during a meeting last Friday at Royal Docks Brewing Co. to celebrate completion of the deal.

Employees are on board for the creation of a company that has doubled in size and become a truly global operation, Mattes said. “There’s a ton of opportunities, a ton of room for creativity and a lot of room for growth,” he said.

The new company — under Diebold or Wincor Nixdorf brands — has sold or services roughly 1 million ATMs worldwide, giving it one-third of the market and connections with the world’s 100 largest banks, Mattes said. The company also operates in the retail sector with hundreds of thousands of point-of-sale terminals.

Diebold Nixdorf will have headquarters at Diebold’s facility on Mayfair Road in Green, while maintaining a large presence in Paderborn, Germany. Mattes said the companies will have “two centers of gravity” and that both are equally embedded in their local communities. Diebold has about 1,000 employees in its local operations.

Mattes said he first proposed to Diebold directors the idea of combining with Wincor Nixdorf in August 2014. Talks with Wincor Nixdorf began early in 2015 and the companies announced plans for a combination last November.

The deal, which should be a springboard for future growth, has moved along on track as the companies worked through legal issues in the United States and Europe, Mattes said.

During the merger process, the two companies have been integrating operations and are ready move forward, Mattes said. The new company will have annual sales of just more than $5 billion, with more than $3 billion coming from services and software.

The announcement that the deal had closed was made before trading opened in the United States. Diebold stock issued to Wincor Nixdorf’s shareholders will begin trading on the New York Stock Exchange, and Diebold shares also are trading on the Frankfurt Stock Exchange.

During trading Monday on the New York Stock Exchange, Diebold shares gained 23 cents to close at $28.40. More than 1.36 million shares were traded, twice the 90-average.

Article reprinted with permission, Copyright 2016, Repository, Some rights reserved.

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