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Diebold Nixdorf to sell Diebold UK and Ireland unit to satisfy CMA concerns

June 29, 2017

The Competition and Markets Authority, the U.K. body that investigates mergers that could restrict market competition, has approved the sale of the Diebold U.K. and Ireland unit to banking solutions provider Cennox, a company press release announced.

The sale will resolve the authority's concerns about a lessening of competition in the U.K. market resulting from the combination in late 2015 of Diebold Inc. and Wincor Nixdorf to form Diebold Nixdorf.

This industry development "launches a strong new partnership between two organizations whose focus continues to be providing a complete end-to-end and truly multi-vendor approach to the provision of Hardware, Software, Security and Service delivery," the release said.

The acquisition will include all existing Diebold U.K. staff. John Ennis, currently managing director of Diebold UK and Ireland, will be managing director of the Cennox U.K. division.

"The Diebold U.K. and Ireland acquisition is hugely exciting for the Cennox Group," Cennox CEO Clive Nation said in the press release. "Our combined resources and merging of key personnel, together with our shared appetite for service delivery, will enable Cennox to achieve our ongoing strategy of developing the leading independent ATM and banking services company."

The acquisition will allow Cennox to offer their customers with a range of new products and services, and the expertise of the combined Cennox and Diebold UK and Ireland staff, the release said.

In the coming weeks, Cennox will issue product-specific announcements in full, the company said.

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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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