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Diebold in joint venture to provide ATMs, kiosks in China

Diebold says that it will work with China-based partner Inspur to provide a complete suite of self-service products and related services to Chinese FIs.

December 21, 2015

Diebold Inc. and Inspur Group, a Chinese cloud computing and data center company, have announced plans for a joint venture to develop, manufacture and distribute financial ATMs and other self-service solutions in China.

Inspur Group is an $8 billion multinational firm headquartered in Jinan, Shandong. The company specializes in IT hardware and software and, according to a press release, is a leading self-service kiosk manufacturer for major financial institutions in China.

In addition to hardware and software, the joint venture will provide a suite of services that includes installation, maintenance, and professional and managed services related to ATMs and other automated transaction solutions.

Inspur will hold a majority stake of 51 percent in the new joint venture, which will be called Inspur Financial Information Systems Ltd. Inspur will acquire a minority share of Diebold's current China joint venture.

Diebold will serve as exclusive distributor outside of China for products developed by the new joint venture. These will be sold under the Diebold brand.

"Partnering with Inspur enhances our competitive position and deepens the relationship with our customers in China," said Diebold President and CEO Andy Mattes. "We look forward to reigniting growth in China and are excited to work with Inspur to sell a complete suite of self-service products and related services."

"Combining both companies' technology, sales expertise and existing presence in China will be of great value, both to our clients and our respective businesses," said Inspur Group President and CEO Sun Pishu. 

The companies expect to finalize their agreement in mid-2016, pending regulatory and other approvals.

Upon closing the agreement, Diebold will appoint a chairman of the new joint venture; Inspur will appoint a CEO to lead day-to-day operations, and the  company will immediately begin manufacturing and distribution activities. 

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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.

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