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Diebold to acquire Wincor Nixdorf

26-11-20153US ATM and bank security systems company Diebold has announced plans to merge with Germany’s Wincor Nixdorf, in a deal that would create a $5.2 billion banking and retail technology giant. The transaction values Windor Nixdorf, including its net debt at about $1.8 billion. Under the terms of a business combination agreement, Diebold will launch a voluntary public tender offer to all of Wincor Nixdorf’s shareholders 38.98 euros in cash plus 0.434 Diebold common shares for every share of Wincor Nixdorf. Wincor Nixdorf provides information technology solutions and services to retail banks and the retail industry around the world, focusing the branch operations of both sectors. It employs 9,000 people in 42 countries, more than half of whom based outside Germany. Diebold has developed technology using which its ATMs allow users to withdraw money or send cash via smartphones. The implied value of 52.50 euros per Wincor Nixdorf share represents a 35% premium over Wincor Nixdorf’s closing share price. The combined company, which will be called Diebold Nixdorf, had revenues of about $5.2 billion, or 4.8 billion Euros, in the 12 months prior to 30 September 2015. That total excludes revenue from Diebold’s North American electronic security business, which Diebold is selling off to Securitas AB, an $8 billion global security services company based in Stockholm, for $350 million. After the deal is completed and the necessary approvals are received, Diebold Nixdorf’s common shares will be listed on the New York Stock Exchange and the Frankfurt Stock Exchange, with headquarters in North Canton and Paderborn, Germany.

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