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Diebold buys Turkey's Altus

22 October 2012  |  4692 views  |  0 atm

American technology vendor Diebold has acquired Turkish ATM services specialist Altus. Financial terms of the deal were not disclosed.

Headquartered in Ankara, Altus employs more than 150 cash machine specialists in 32 service centres, covering 80 cities throughout Turkey. CEO Bulent Tellioglu is joining Diebold as the company's country manager.

Diebold says that the acquisition is part of an aggressive growth strategy in the country, which, according to Retail Banking Research, saw its ATM network grow by 4700, or 17%, between 2010 and 2011.

Dave Wetzel, MD, Emea, Diebold, says: "With its invaluable expertise and knowledgeable associates, Altus will enrich the Diebold brand in Turkey and create value for our customers."

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