NORTH CANTON, Ohio -- Diebold, Incorporated (NYSE: DBD) has reached an agreement to purchase QSI Security, Incorporated, a specialized integrator and installer of security equipment to customers based in the Northeast region of the United States.
According to a news release, Londonderry, N.H.-based QSI's primary security offerings include closed circuit television (CCTV) cameras, digital video and access control systems for financial institutions, credit unions and various commercial accounts.
The agreement includes the purchase of all assets of the company, including intellectual property and accounts receivable, existing maintenance contracts, open orders, cash, inventories, office equipment, vehicles and tools. Financial terms of the deal were not disclosed.
According to the release, the move will boost Diebold's position as a a provider of comprehensive integrated security products and services.
Richard Baggot, vice president of Electronic Security and Currency Systems Group at Diebold, said in the release, "There are a number of synergies between the two companies, like security integration, specialization and a mutual customer base, that make folding QSI into the Diebold family of security solutions a natural progression."
