Diebold is on track to acquire Paderborn, Germany-based Wincor Nixdorf. The offer price of EUR 52.50 per share for Wincor Nixdorf would be paid in cash and Diebold shares.
This will make Diebold a dynasty in the global ATM vertical.
The deal is expected to help the companies sharpen their focus on the growing digital-payments segment and move away from the declining ATM business.
The deal will give Diebold a foothold to expand into Europe, way beyond its traditional market in North America. Diebold is headed by former Hewlett-Packard Co. executive Andy Mattes.
Wincor is also grappling with falling revenue and said in April that it will prune its ATM-making capacity and try to strengthen software and IT services activities, which accounts for 59 percent of its sales says the Wall Street Journal.
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