Company agrees to sell legacy Diebold U.K. and Ireland business to Cennox, meeting regulatory conditions and concluding final antitrust element of Diebold Nixdorf combination
Diebold Nixdorf, Incorporated (NYSE:DBD), a world leader in enabling connected commerce for millions of consumers across the financial and retail industries, today announced it is launching its fully integrated brand and direct presence in the U.K. and Ireland.
The company has agreed to sell its legacy Diebold business in the United Kingdom to Cennox Group, fulfilling the requirements previously set forth by the U.K. Competition and Markets Authority (CMA). The acquisition by Cennox is expected to close June 30. Upon closing, the legacy, independent Wincor Nixdorf U.K. and Ireland business will be completely integrated into the global Diebold Nixdorf operations and brand. This includes the company's retail business, which was not subject to CMA review.
"Our team in the U.K. and Ireland, totaling 900 people strong, looks forward to broadening relationships and providing innovation for our customers -- enabling an 'always on' experience for consumers and shaping the future of connected commerce," said Andy W. Mattes, president and chief executive officer, Diebold Nixdorf. "We are very pleased to put this final antitrust requirement of our business combination behind us -- and excited to fully move forward in the U.K. and Ireland as Diebold Nixdorf."
Based in Surrey, U.K., Cennox is a global provider of banking services and the U.K.'s largest independent ATM service business. Cennox provides various self-service-related solutions and support services, patented security products and branch transformation capabilities, primarily to the financial industry but also retail and commercial industries. Under the sale agreement, all staff from the legacy Diebold operation serving U.K. customers, totaling 67 employees, will become part of Cennox. The acquisition will allow Cennox to exclusively sell legacy Diebold hardware, services and Phoenix software in the U.K. and Ireland. Financial terms were not disclosed.
Earlier this year, the CMA published its official findings in connection with the business combination of Diebold, Incorporated and Wincor Nixdorf AG, and concluded that a structural remedy was required to ensure effective competition in the U.K. Diebold and Wincor Nixdorf brands and operations had remained separate and distinct while awaiting CMA review.
Cennox is an industry leader, offering a wide range of solutions to the world's leading banks, retail and commercial institutions. Cennox deliver the best-in-class solutions that give a distinct competitive advantage in the marketplace. Globally recognised, Cennox is an industry pioneer with operations on six continents and central offices in the United Kingdom and United States, employing over 600 staff.
Cennox has been ranked in the Sunday Times FAST TRACK 200, detailing the top 200 fastest growing UK Businesses for International sales for 2 years running. In addition, for the past two years, Cennox has also been ranked in the top 100 of fastest Growing UK Businesses on the FAST TRACK 100 list sponsored by Virgin.
Diebold Nixdorf, Incorporated (NYSE:DBD) is a world leader in enabling connected commerce for millions of consumers each day across the financial and retail industries. Its software-defined solutions bridge the physical and digital worlds of cash and consumer transactions conveniently, securely and efficiently. As an innovation partner for nearly all of the world's top 100 financial institutions and a majority of the top 25 global retailers, Diebold Nixdorf delivers unparalleled services and technology that are essential to evolve in an 'always on' and changing consumer landscape.
Diebold Nixdorf has a presence in more than 130 countries with approximately 24,000 employees worldwide. The organization maintains corporate offices in North Canton, Ohio, USA and Paderborn, Germany. Shares are traded on the New York and Frankfurt Stock Exchanges under the symbol 'DBD'.