NORTH CANTON, Ohio–Diebold has agreed to purchase Wincor Nixdorf, one of its competitors, in a deal valued at $1.8-billion.
Diebold is paying a 35% premium on the Germany-based Wincor Nixdorf’s shares.
The combined entity will be called Diebold Nixdorf, with Diebold’s president/CEO, Andy Mattes, to be CEO of the combined company and Wincor’s president/CEO, Eckard Heidloff, to be president, once the merger is complete.
Both companies have been undergoing transformations as they have sought to cut costs and improve results.