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Diebold picks up third-party maintenance provider

June 27, 2004

NORTH CANTON, Ohio-Diebold, Inc. (NYSE:DBD) has acquired Bountiful, Utah-based TFE Technology Holdings, according to a June 24 announcement. TFE Technology provides third-party network and hardware service solutions to federal and state government agencies and commercial firms.

According to Bartholomew J. Frazzitta, vice president of Diebold's Security Division, the company will help Diebold provide "a total security solution that integrates everything from IT equipment and networking capabilities to support services."

TFE Technology is one of the 10 largest third-party maintenance providers of its kind. With more than 25 years of industry experience, TFE offers an alternative to OEM maintenance services. The company employs approximately 250 associates with operations in all 50 states, plus Puerto Rico and Guam.

John Walker, TFE's president, CEO and director, will join Diebold and will be responsible for TFE's day-to-day operations, according to the announcement.

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