German ATM maker Wincor Nixdorf seeks sale
09 Apr 2015
German ATM maker Wincor Nixdorf has hired investment banks to look at the future of the group, including a potential sale to a private equity group, Reuters yesterday reported, citing two people familiar with the matter.
"A P2P (public to private transaction) is one of the options, the acquisition of a peer by Wincor is another one", the report said quoting the source.
No advisor has yet been officially mandated and the company may still decide against any move, the report added.
Wincor Nixdorf, which has a market capitalisation of $1.56 billion (€1.44 billion), was founded by Heinz Nixdorf in 1952 as Nixdorf Computer AG.
It was acquired in 1990 by Siemens AG and renamed Siemens Nixdorf Informationssysteme and was renamed Wincor Nixdorf after it was purchased in 1999 by buyout groups Kohlberg Kravis Roberts and Goldman Sachs Capital Partners.
The company was taken public in 2004 and now sells ATMs, retail banking equipment, lottery terminals, postal terminals, software and services for global financial and commercial markets.
The Paderborn, Germany-based company has a presence in around 130 countries and has a total workforce of around 9,000 people.
Its main competitors are NCR Corp of the US and Japan's Oki Electric.
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