18 December 2017
visit www.aciworldwide.com

Diebold Nixdorf sells off some business to satisfy UK watchdog

29 June 2017  |  4890 views  |  0 chequered flag

Newly-merged ATM giant Diebold Nixdorf has calmed regulatory concerns by agreeing to sell off its Diebold UK business to local provider Cennox.

Last year, the UK's Competition and Markets Authority (CMA) ran an in-depth investigation into the $1.8 billion Diebold/Wincor merger over concerns that the deal would substantially reduce competition in the ATM market, leaving only NCR as a credible competitor.

In March the CMA said that if Diebold Nixdorf wanted the merger to be completed it must sell either Diebold’s or Wincor’s customer-operated ATMs business in the UK to a new owner, to be approved by the watchdog.

In a deal - financial terms of which have not been disclosed - expected to close tomorrow, the CMA's requirements have now been met, with Surrey-based Cennox taking on the Diebold operation serving UK customers, including 67 employees. The acquisition will allow Cennox to exclusively sell legacy Diebold hardware, services and Phoenix software in the UK and Ireland.

Meanwhile, Diebold Nixdorf can finally launch its fully integrated brand and direct presence in the UK and Ireland.

Andy Mattes, president and CEO, Diebold Nixdorf, says: "We are very pleased to put this final antitrust requirement of our business combination behind us - and excited to fully move forward in the UK and Ireland as Diebold Nixdorf."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.response.ncr.comvisit www.atos.net

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11137 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
9700 views comments | 20 tweets | 21 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7679 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7258 views comments | 6 tweets | 26 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7177 views comments | 5 tweets | 11 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job