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 UK Competition and Markets Authority (CMA).
The acquisition by Cennox is expected to close today. Upon closing, the legacy, independent Wincor Nixdorf UK 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.
Diebold Nixdorf’s Andy Mat said his team in the UK and Ireland, totalled 900 and was looking forward to broadening relationships and providing innovation for its customers.
“We are very pleased to put this final antitrust requirement of our business combination behind us — and excited to fully move forward in the UK and Ireland as Diebold Nixdorf.”
Cennox is a global provider of banking services and the UK’s largest independent ATM service business. It 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 UK 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 UK. Diebold and Wincor Nixdorf brands and operations had remained separate and distinct while awaiting the CMA review.