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Diebold acquires software developer Phoenix Interactive
Diebold anticipates that the acquisition will accelerate its transformation into a services-led, multivendor software-enabled company.
March 16, 2015
Diebold Inc. has announced its acquisition of Phoenix Interactive Design Inc., a leading developer of software solutions for ATMs and other financial self-service applications.
According to the announcement, London, Ontario-based Phoenix creates highly configurable, enterprise-wide software that automates and migrates financial services across channels. The company's customers include TD Canada Trust, National Australia Bank Group and Fifth Third Bank.
Diebold President and CEO Andy Mattes said in a statement that acquiring Phoenix was "a key foundational move" to accelerate the ATM-maker's growth in managed services and branch automation segments.
"Diebold's acquisition of Phoenix is an important milestone in our drive to transform to a services-led, software enabled company," Mattes said. "There are many synergies between our companies. We will integrate the talent of the Phoenix team and take advantage of our reach to expand the Phoenix solution in more global markets."
Phoenix has approximately 200 employees, who will be retained. Diebold EVP of Software Alan Kerr will lead the Phoenix operation, which will serve as the foundation of Diebold's software business moving forward. Phoenix CEO Kyle MacDonald is retiring from the company, but will remain active for a time during the integration process, the announcement said.
"I am confident that Diebold will bring tremendous growth opportunities for the Phoenix team, and will add impressive value to Phoenix's clients," MacDonald said.
Financial terms of the acquisition were not disclosed in the announcement.
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Diebold Nixdorf
As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.
