Diebold finalises deal to acquire remaining 50% equity in JV

New Delhi: Diebold Inc (www.diebold.com) has announced it has finalised a deal to acquire the remaining 50 per cent of equity in Diebold HMA Pvt Ltd. This joint venture sales and service organisation, headquartered in Chennai, is now a 100-per cent subsidiary of Diebold Inc.

Diebold HMA is the largest ATM vendor in India and provides comprehensive solutions in retail delivery management tailored to suit financial institutions in India. The company holds to its credit that the first ATMs into India were Diebold, and today counts 78 banks as customers in India.

Today the company operates out of offices in all major cities in India and provides services via 83 service centres — one of the largest direct service infrastructures in India. The name is expected to be changed shortly to reflect Diebold's 100-per cent ownership.

Diebold Inc is a global leader in providing integrated self-service delivery systems and services. Diebold employs more than 13,000 associates with representation in more than 88 countries worldwide and its headquarter is in North Canton, Ohio, USA. Diebold reported revenue of $1.9 billion in 2002 and is publicly traded on the New York Stock Exchange under the symbol DBD.