Diebold acquires security integrator Antar-Com

Source: Diebold

Diebold, Incorporated (NYSE: DBD), a global leader in providing integrated security, services and self-service delivery systems, today announced it has acquired Antar-Com, Inc., an industry-leading electronic security systems integrator.

Headquartered in White Plains, N.Y., Antar-Com has more than 25 years experience in the security and access control industry, specializing in the design and integration of turnkey security solutions. Antar-Com provides engineered security solutions for the commercial, government and retail markets, as well as some of today's most prestigious Fortune 500 companies. Antar-Com employs nearly 100 people and generated revenue of approximately $27 million in 2003.

"This strategic acquisition allows us to broaden our product and service offerings," said Eric C. Evans, president and chief operating officer for Diebold. "The addition of Antar-Com will enhance Diebold's proven hardware and software capabilities by providing total integrated security solutions for our customers."

Stephen V. Reitano, chief executive officer of Antar-Com, will join Diebold as president of the Antar-Com subsidiary and be responsible for its day-to-day operations. "Our management team and associates can provide Diebold with a specialized focus in specific areas of the integrated electronic security market," Reitano said. "As a leading systems integrator in the electronic security industry, Diebold can provide Antar-Com customers with additional security-related products and services that meet their needs now and in the future."

Dan Putnam and Isac Tabib, co-founders of Antar-Com, are extremely excited about the opportunity to develop a national presence via this acquisition. "Antar-Com has built an extremely scalable business model over the past few years, and joining Diebold presents us with many new opportunities," said Putnam.

"Antar-Com's level of technical expertise and the company's customer- focused approach to system design and implementation make it a very strategic addition to Diebold," said Richard Baggot, vice president, Electronic Security and Currency Systems Group at Diebold. "There are a number of synergies between the two companies, such as our complementary security offerings and our mutual high-end corporate, commercial and government markets. Bringing the Antar-Com team into the Diebold family will be quick and seamless, with uninterrupted customer service during the transition."

Comments: (0)