Diebold fully acquires India JV

Thursday, 29 May 2003, 07:00 Hrs
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NEW DELHI: Diebold, Incorporated (NYSE: DBD) Thursday announced it has finalized a deal to acquire the remaining 50 percent of equity of Diebold HMA Private Ltd.

This joint-venture sales and service organization, headquartered in Chennai, is now a 100 percent subsidiary of Diebold, Incorporated. Diebold HMA Private Ltd. is the largest ATM vendor in India and provides solutions in retail delivery management tailored to suit financial institutions in India.

The company holds to its credit that the first ATMs into India were Diebold, and today counts 78 banks as customers in India. The name is expected to be changed shortly to reflect Diebold's 100 percent ownership, the company announced in a press release.
Source: IANS
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