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Diebold Completes Sale of North America Electronic Security Business to Securitas
Friday, February 5, 2016 6:30 AM

Net proceeds from sale will support funding of the pending Wincor Nixdorf business combination

Diebold, Incorporated (NYSE: DBD) has announced it has completed the previously disclosed agreement to sell its North America-based electronic security business to Securitas AB. Securitas agreed to acquire the business from Diebold for a purchase price of approximately $350 million, 10 percent of which is contingent on the successful transfer of certain customer relationships to Securitas.

The acquired business will operate under the company name Securitas, with the brand transition from Diebold planned to be complete by the end of 2016. The companies also agreed to a strategic business alliance in which Securitas will serve as Diebold's preferred supplier for electronic security solutions in North America, and Diebold will be Securitas’ preferred provider of ATM-related solutions and services.

In addition, as part of the transaction, Diebold and Securitas have entered into a transition services agreement (TSA) to ensure a seamless customer experience. Effective immediately, the TSA period is 12 months and provides Securitas the ability to leverage existing Diebold services, systems, and physical assets to fully support its customers during the transition.

“We are pleased to finalize the divestiture of our North America electronic security business, marking an important milestone in Diebold’s transformation and allowing us to better focus our efforts and resources,” said Andy W. Mattes, Diebold president and chief executive officer. “After having many customer meetings together with Securitas in recent weeks, we are very excited about what the future holds for our companies. I want to thank all 1,100 employees of Diebold Electronic Security and its leadership team for their continued dedication and commitment to our customers. This is also an important component of the financing for our pending business combination with Wincor Nixdorf.”

About Securitas

Securitas is a global knowledge leader in security. From a broad range of services of specialized guarding, technology solutions and consulting and investigations, we customize offerings that are suited to the individual customer's needs, in order to deliver the most effective security solutions. Everywhere from small stores to airports, our 320,000 employees are making a difference. More information on Securitas can be found at www.securitas.com.

About Diebold

Diebold is an approved business partner of Credit Union Resources, a subsidiary of Cornerstone Credit Union League. Diebold, Incorporated (NYSE: DBD) provides the technology, software, and services that connect people around the world with their money—bridging the physical and digital worlds of cash conveniently, securely, and efficiently. Since its founding in 1859, Diebold has evolved to become a leading provider of exceptional self-service innovation, security and services to financial, commercial, retail and other markets. Diebold has approximately 15,000 employees worldwide and is headquartered near Canton, Ohio. Visit Diebold at www.diebold.com or on Twitter: http://twitter.com/DieboldInc.

View more about this press release here.