Bank of America, the operator of the largest ATM network in the US, has signed a $71 million outsourcing agreement with Diebold.
The agreement is for equipment maintenance service in the western United States, plus existing contracts previously awarded to Diebold in the eastern United States. Up to 1000 Bank of America staff will transfer to Diebold under the deal.
The seven-year contract is valued at $71 million per year and will cover nearly 10,000 ATMs nationwide.
Aside from traditional first- and second-line ATM service, Diebold will provide Bank of America with maintenance for central site processing equipment, physical security and office equipment, excluding PCs, alarms and branch automation.
The deal represents incremental Diebold revenue of approximately $48 million annually as some equipment was covered under previous service contracts valued at approximately $23 million annually.