Diebold Nixdorf appoints Dr. Juergen Wunram as COO; Eckard Heidloff steps down as president

NORTH CANTON, Ohio and PADERBORN, Germany, 2017-Feb-17 — /EPR Retail News/ — Following the registration of the domination and profit and loss transfer agreement (DPLTA) announced Feb. 14, Diebold Nixdorf, Incorporated (NYSE: DBD) today (Feb. 16, 2017) announced two key, global leadership changes. Dr. Juergen Wunram, senior vice president and chief integration officer, has been appointed chief operating officer (COO).  Wunram also will join the company’s board of directors.  In addition, Eckard Heidloff, president of Diebold Nixdorf, is resigning from the company effective March 31.

“I am excited for Juergen to take on this major leadership role.  His experience in management and process improvement will be invaluable as we shift the company’s integration into high gear,” said Andy W. Mattes, chief executive officer, Diebold Nixdorf.  “Also, I want to personally thank Eckard for being a crucial partner in making Diebold Nixdorf a reality.  His leadership was paramount in the successful transition of our new company.”

In his role, Wunram’s responsibilities will include integration, IT, security, quality, indirect procurement, the EMEA business, as well as the company’s retail business and Aevi subsidiary. He will be based in Germany.  Wunram served as the chief financial officer (CFO) and COO, and a member of the executive board for Wincor Nixdorf AG, since 2007. In 2013, he was also appointed deputy CEO for the company. Prior to joining Wincor Nixdorf, Wunram was a director at McKinsey & Company where he served as a consultant since 1992. He led McKinsey’s Hamburg office and was a member of the leadership team for the European High-Tech Sector and Operations Practice.  Wunram has a doctorate in mathematics from the University of Hamburg, Germany.

Since joining Nixdorf Computer AG in 1983, Heidloff held a series of leadership positions in both the retail and financial self-service businesses that played a key role in shaping the company’s success over the years. He was appointed CFO and COO for Wincor Nixdorf AG in 2004.  In 2007, Heidloff was named the company’s president and chief executive officer.  Heidloff has a Diplom Kaufmann in business administration from the University of Paderborn.

About Diebold Nixdorf

Diebold Nixdorf is a world leader in enabling connected commerce for millions of consumers each day across the financial and retail industries. Its software-defined solutions bridge the physical and digital worlds of cash and consumer transactions conveniently, securely and efficiently. As an innovation partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers, Diebold Nixdorf delivers unparalleled services and technology that are essential to evolve in an ‘always on’ and changing consumer landscape.

Diebold Nixdorf has a presence in more than 130 countries with approximately 25,000 employees worldwide. The organization maintains corporate offices in North Canton, Ohio, USA and Paderborn, Germany. Shares are traded on the New York and Frankfurt Stock Exchanges under the symbol ‘DBD’. Visit www.DieboldNixdorf.com for more information.

Contact:

U.S. Media Relations:
Mike Jacobsen
APR
+1-330-490-3796
michael.jacobsen@dieboldnixdorf.com

Investor Relations:
Steve Virostek
+1-330-490-6319
steve.virostek@dieboldnixdorf.com

Germany Media Relations:
Andreas Bruck
+49 151 1512 3018
andreas.bruck@dieboldnixdorf.com

SOURCE: Diebold Nixdorf

Chinese Aisino Corporation established a joint venture with Wincor Nixdorf in China

PADERBORN, GERMANY, 2016-Jun-24 — /EPR Retail News/ — Aisino Corporation, a Chinese company that specializes in intelligent anti-forgery tax control systems, EFT POS solutions, financial IC cards, bill receipt printing solutions and public IT security solutions, has established a joint venture (JV) with Wincor Nixdorf in China to develop, produce and market IT solutions for banking and retail companies in China. The JV is strategically positioned to primarily tap the sizeable banking business in the country by offering solutions that meet Chinese banking regulations. Aisino, which currently employs more than 20,000 people in China and earns annual revenues of USD 3.2 billion, holds a majority interest of 51 percent in the joint venture.

Operating under the name Aisino Wincor, the JV will offer banks and retailers an extensive range of hardware, software and services. The JV’s comprehensive portfolio comprises POS systems and self-checkout solutions for the retail segment as well as self-service solutions for the banking segment. Banking solutions include ATMs, cash recycling systems and the software necessary to operate the systems. The JV’s portfolio will also extend to offering the banking segment end-to-end services that help customers manage their self-service networks. These professional and managed services range from deployment and project management to life-cycle maintenance.

“Thanks to the partnership with Aisino, we will improve our position in this strategically important market. We will also be able to help Chinese banks and retailers to become more efficient and profitable by offering them innovative solutions,” said Eckard Heidloff, President and Chief Executive Officer of Wincor Nixdorf.

“We look forward to a successful future with Wincor Nixdorf, an internationally recognized leading provider of IT solutions for both the banking and retail industries,” stated Mr. Shi Yang, CEO of the Aisino Group.
The joint venture will commence operations after relevant approval granted by the authority and is headquartered in Shanghai.

Press Contacts:

Press/Financial Press
Andreas Bruck
Head of Corporate Communications
Phone: +49 5251 693 5200
E-Mail: andreas.bruck@wincor-nixdorf.com

Press/Trade Press
Dr. Thomas Daubenbüchel
Head of Press and Editorial Office
Phone: +49 5251 693 5212
E-Mail: thomas.daubenbuechel@wincor-nixdorf.com

Ulrich Nolte
Phone: +49 5251 693 5211
E-Mail: ulrich.nolte@wincor-nixdorf.com

Trade Press
Claudia Wendorff-Goerge
Phone: +49 5251 693 5203
E-Mail: claudia.wendorff-goerge@wincor-nixdorf.com

Source: Wincor Nixdorf

HPE Growth Capital to acquire minority stake in Wincor Nixdorf subsidiary AEVI

In the context of a capital increase worth up to EUR 30 million, HPE Growth Capital is acquiring a minority stake in AEVI, a subsidiary of Wincor Nixdorf AG, with retroactive effect from October 1, 2015. AEVI intends to use the extra capital to accelerate its successful growth trend in the market for cashless payments.

Paderborn, Germany, 2016-May-11 — /EPR Retail News/ — AEVI had been carved out of the Wincor Nixdorf group at the start of the financial year (October 1) in a move which saw it position itself as an independent company with the aim of becoming a global leader in the dynamic market for cashless payment solutions. Prior to becoming an autonomous operation, AEVI had generated annual revenue of around EUR 50 million.

The capital increase is to be used primarily to further accelerate AEVI’s strong growth and to expand its global presence. “With HPE, we are delighted to have found an investor for AEVI that has a wealth of expertise in global payments. We are convinced that AEVI will profit from its shareholders Wincor Nixdorf, a global leader in cash-related payments, and HPE. We want to promote internationalization, intensify our sales and marketing activities, and invest in other innovations in payments and the B2B apps marketplace,” explained Eckard Heidloff, President and CEO of Wincor Nixdorf.

Tim van Delden, Partner & Chief Investment Officer of HPE commented as follows: “AEVI has the clear potential to become a game-changer in the area of global face-to-face payments. Its innovative payments platform combined with the B2B apps marketplace is helping to resolve current inefficiencies in this market.”

In an initial tranche, a capital increase of EUR 20 million was facilitated; however, HPE and its investors have the option of purchasing further shares in AEVI in a second tranche worth up to EUR 10 million. Wincor Nixdorf intends to retain a majority holding in AEVI in the long term, too.

Support in the investment process was provided exclusively by Berenberg Bank.

About AEVI
AEVI has developed a unique open ECO system to bring merchant banks / merchant acquirers closer to their merchants, and merchants closer to their consumers. It provides a global gateway for payment transactions together with a marketplace for high quality value added apps and services (VAAS) providing new business opportunities beyond payments. This enables fast and effective innovation, plus enhanced control and flexibility. This combination delivers a reduced total cost of ownership for our clients.
We work with our customers to help them embrace collaboration and adopt open solutions that have the power to deliver more value and better meet the needs of today’s consumer.
In short we enable businesses to DO MORE.

Press Contact

Press/Financial Press

Andreas Bruck
Head of Corporate Communications
Phone: +49 5251 693 5200
E-Mail: andreas.bruck@wincor-nixdorf.com

Press/Trade Press

Dr. Thomas Daubenbüchel
Head of Press and Editorial Office
Phone: +49 5251 693 5212
E-Mail: thomas.daubenbuechel@wincor-nixdorf.com

Ulrich Nolte
Phone: +49 5251 693 5211
E-Mail: ulrich.nolte@wincor-nixdorf.com

Trade Press

Claudia Wendorff-Goerge
Phone: +49 5251 693 5203
E-Mail: claudia.wendorff-goerge@wincor-nixdorf.com

Wincor Nixdorf AG announces management appointments

Paderborn, Germany, 2016-Mar-04 — /EPR Retail News/ — The Supervisory Board of Wincor Nixdorf AG has extended, earlier than scheduled, the contracts of CEO & President Eckard Heidloff as well as Deputy CEO & President and CFO Dr. Jürgen Wunram by three years until February 28, 2019. The former contracts had been set to terminate at the end of January 2017 (Dr. J. Wunram) and the end of February 2017 (E. Heidloff).

In addition, the Supervisory Board has appointed former Senior Vice President Dr. Ulrich Näher as a further member of the Board of Directors effective from March 1, 2016. His contract will cover a period of three years. As an Executive Vice President and member of the Board of Directors, Dr. Ulrich Näher will oversee the Systems business unit, which is responsible for the global hardware business of Wincor Nixdorf. Therefore, including Olaf Heyden, the Board of Directors of Wincor Nixdorf AG will consist of four members.

Press Contact

Press/Financial Press

Andreas Bruck
Head of Corporate Communications
Phone: +49 5251 693 5200
E-Mail: andreas.bruck@wincor-nixdorf.com

Press/Trade Press

Dr. Thomas Daubenbüchel
Head of Press and Editorial Office
Phone: +49 5251 693 5212
E-Mail: thomas.daubenbuechel@wincor-nixdorf.com

Ulrich Nolte
Phone: +49 5251 693 5211
E-Mail: ulrich.nolte@wincor-nixdorf.com

Trade Press

Claudia Wendorff-Goerge
Phone: +49 5251 693 5203
E-Mail: claudia.wendorff-goerge@wincor-nixdorf.com

AGS Transact Technologies installs 50,000th Wincor Nixdorf automated teller machine at an Indian bank

AGS installs 50,000th automated teller machine from Wincor Nixdorf in India

Paderborn, GERMANY, 2016-Jan-19 — /EPR Retail News/ — AGS Transact Technologies and Wincor Nixdorf have two good reasons to celebrate: AGS has installed the 50,000th Wincor Nixdorf automated teller machine at an Indian bank, and the new collaboration model involving Wincor Nixdorf and AGS was recently launched. The aim of this partnership is to jointly develop and locally produce an ATM model by AGS that has been customized to meet the needs of rural areas. Both companies signed a framework agreement in September covering the partnership. Under the agreement, Wincor Nixdorf will supply key system components that will be used to produce 40,000 systems over the next two years. Shipment of the first 1,000 system components signaled the start of local production by AGS.

“In the past ten years, we have been able to provide all leading banks with best-in-class ATM technology thanks to our strong relationship with AGS in the critically important Indian market,” Eckard Heidloff, CEO and President of Wincor Nixdorf AG, told banking representatives in Mumbai. The support provided by AGS and Wincor Nixdorf enabled the banks to set up a stable self-service infrastructure, Heidloff noted. “The start of production for the new ATM model marks the beginning of a new chapter for us. Our collaboration lends new momentum to the Financial Inclusion Initiative introduced by the Indian government and facilitates the provision of financial services, particularly in rural areas,” Heidloff said.

Ravi B. Goyal, Chairman and Managing Director of AGS Transact Technologies, said: “Our company is a reliable, highly capable technology partner for banks for over a decade now. This collaboration, under the “Make in India” initiative backed by the Government of India, will help us to provide our customers with a tailored, robust product, thereby enabling them to provide a payments service infrastructure in the remotest parts of India.”

The locally produced ATMs, once installed, will help increase access to financial services in rural and metropolitan areas of India. Wincor Nixdorf and AGS Transact Technologies have been driving forces behind the dynamic growth of India’s ATM market. An analysis conducted by the British market research firm RBR shows that Wincor Nixdorf ranked among the top three in the market with an installed base of about 23 percent of ATMs in 2014. RBR projects that India will become the world’s second-largest ATM market, behind China, by 2020. The key reasons for this expansion are rapid population growth and financial inclusion projects initiated by the Indian government.

Press Contact

Press/Financial Press

Andreas Bruck
Head of Corporate Communications
Phone: +49 5251 693 5200
E-Mail: andreas.bruck@wincor-nixdorf.com

Press/Trade Press

Dr. Thomas Daubenbüchel
Head of Press and Editorial Office
Phone: +49 5251 693 5212
E-Mail: thomas.daubenbuechel@wincor-nixdorf.com

Ulrich Nolte
Phone: +49 5251 693 5211
E-Mail: ulrich.nolte@wincor-nixdorf.com

Trade Press

Claudia Wendorff-Goerge
Phone: +49 5251 693 5203
E-Mail: claudia.wendorff-goerge@wincor-nixdorf.com

Diebold to launch voluntary public tender offer for all of Wincor Nixdorf’s outstanding shares

  • Companies have entered into a business combination agreement in which Diebold will launch a voluntary public tender offer for all of Wincor Nixdorf’s outstanding shares
  • Brings together leading global innovators in banking and retail technologies in rapidly transforming industries
  • Combined company will deliver fully integrated and transformative solutions in value-added services, branch automation and omnichannel experiences
  • Both companies share a common strategic focus on growing services and software, and have highly complementary offerings, geographic presence and customer bases
  • Diebold will offer Wincor Nixdorf shareholders €38.98 in cash plus 0.434 Diebold common shares per Wincor Nixdorf share (1)
  • Transaction values Wincor Nixdorf, including net debt, at approximately $1.8 billion, or €1.7 billion (2)
  • Transaction expected to yield approximately $160 million of annual cost synergies, and the combined company will target non-GAAP operating margin (3) in excess of 9 percent by the end of the third full year following completion of the transaction

NORTH CANTON, Ohio and PADERBORN, Germany, 2015-11-23 — /EPR Retail News/ — Diebold, Incorporated (NYSE:DBD), a global leader in providing self-service delivery, value-added services and software primarily to the financial industry, and Wincor Nixdorf AG (FWB: WIN), a leading provider of IT solutions and services to banks and the retail industry, today announced that the companies have entered into a business combination agreement. Pursuant to the business combination agreement, Diebold will launch a voluntary public tender offer to all shareholders of Wincor Nixdorf. Under the terms of the agreement, Diebold will offer Wincor Nixdorf shareholders €38.98 in cash plus 0.434 Diebold common shares per Wincor Nixdorf share (1). This transaction values Wincor Nixdorf, including net debt, at approximately $1.8 billion, or €1.7 billion (2).

The combined company had pro forma revenue of approximately $5.2 billion, or €4.8 billion (4), for the trailing 12 months ended Sept. 30, 2015, excluding revenue attributable to Diebold’s North America electronic security business, which it recently agreed to divest. Following completion of the offer and subject to certain approvals, the combined company will be named Diebold Nixdorf, with common shares publicly listed on the New York Stock Exchange and the Frankfurt Stock Exchange. The combined company will have registered offices in North Canton, Ohio, U.S. and will be operated from headquarters in North Canton and Paderborn, Germany.

The combination brings together leading innovators in value-added services, branch automation and omnichannel experiences to create an industry leader focused on the entire value chain — consult, design, build and operate — to help financial institutions and retailers succeed in their business transformation journey. The combined company will build upon the two companies’ shared vision that services and software drive the consumer experience and enable customers to differentiate themselves in an evolving industry. The combined company will pursue a growing total addressable market of approximately $60 billion, according to independent market estimates and Diebold internal analysis.

Combined Company to Deliver More Services and Innovation to the Market

“The rate of change we see in our industry is unprecedented, and by leveraging innovative solutions and talent from both organizations we will have the scale, strength and flexibility to help our customers through their own business transformation,” said Andy W. Mattes, Diebold president and chief executive officer (CEO). “Our new company will be well positioned for growth in high-value services and software — particularly in the areas of managed services, branch automation, mobile and omnichannel solutions — across a broader customer base. This combination was made possible through the successes we have had and continue to create in the Diebold 2.0 transformation plan. We have a history of collaboration with Wincor Nixdorf, and our shared approach will help drive a successful integration and minimize disruption. I am very excited about the many opportunities we will create together.”

“The combination of Diebold and Wincor Nixdorf is an exciting opportunity for both companies to shape the future of banking and retail solutions. Together, we can even better leverage the potential of a rapidly changing banking and retail market due to our strong combined R&D expertise. With our complementary geographic presence, we will be even closer to customers worldwide. Our common view of omnichannel software solutions will enable us to create a best-in-class customer experience to support banks and retailers to cope with challenges of digitalization,” said Eckard Heidloff, CEO, Wincor Nixdorf. “Furthermore, we are convinced that our employees will benefit from being part of an even stronger, more global organization that is well positioned for the age of digitalization.”

Highly Complementary Geographies, Customers and Solutions

The two companies share a complementary geographic reach across the Americas, EMEA and within Asia, along with strong, trusted brands backed by best-in-breed engineering. Diebold is a leading player in the Americas, whereas Wincor Nixdorf is a leading player in Europe. These two regions are also key drivers for innovation and digital transformation — both in banking and retail.
The combined company’s collective capabilities and established global market presence will offer a broader range of services and solutions across its customer base. Growth in both the software and services segments is expected to be accelerated by the combined, expanded installed base of nearly one million automated teller machines (ATMs) worldwide to the benefit of the customers. The combined company’s strong service presence will also benefit Wincor Nixdorf’s retail business.

Agreement Approved by Boards of Both Companies

Under the terms of the business combination agreement, which has been approved by Diebold’s board of directors and Wincor Nixdorf’s supervisory board, Diebold will launch a voluntary public tender offer for all outstanding shares of Wincor Nixdorf. The offer consideration will consist of €38.98 in cash plus 0.434 Diebold shares per Wincor Nixdorf share.

Based on the volume-weighted average share price of Diebold shares over the last five trading days prior to Oct. 17, 2015, the day on which the companies confirmed entry into a non-binding term sheet for a proposed business combination, the total offer consideration represented an implied value of €52.50 per Wincor Nixdorf share. This implied value represents a premium of approximately 35 percent over Wincor Nixdorf’s closing share price as of Oct. 16, 2015, and a premium of approximately 42 percent over the volume-weighted average price per share over the last three months preceding that date. The corresponding enterprise value including net debt amounts to approximately $1.8 billion, or €1.7 billion, under these terms.

Under the business combination agreement, the existing transformation program at Wincor Nixdorf will be supported by Diebold and will proceed as planned. The parties have agreed that there will be no material workforce reductions in Germany beyond this existing program as a result of the transaction. Furthermore, all labor-related laws and regulations will be respected and co-determination on the German supervisory board level shall remain unchanged.

Following the completion of the transaction, the combined company plans to deliver approximately $160 million of annual cost synergies and will target a non-GAAP operating margin in excess of 9 percent by the end of the third full year. In addition, the transaction is expected to be accretive to non-GAAP earnings per share (5) in the second year, excluding integration costs.

The terms of the voluntary public tender offer were subject to thorough analysis by Wincor Nixdorf’s supervisory board and management board as required by their fiduciary duties. The management board and supervisory board of Wincor Nixdorf consider the offer consideration proposed by Diebold fair for shareholders and the overall agreement in the best interest of Wincor Nixdorf, its shareholders, employees and other stakeholders and therefore intend to recommend the offer.

Equal Representation on the Executive Committee

Diebold’s Mattes, 54, will be CEO of the combined company. Wincor Nixdorf’s Heidloff, 59, will be president. Christopher C. Chapman, 41, the current Diebold chief financial officer (CFO), will serve as CFO of the combined company, and Jürgen Wunram, 57, Wincor Nixdorf CFO, will serve as chief integration officer and will represent the retail business in the executive committee. In total, the combined company’s executive committee of eight will be equally represented by business leaders from both Diebold and Wincor Nixdorf, including the four executives mentioned above.

Following the closing it is anticipated that along with the existing Diebold board members, three new directors will join the board of the combined company: Dr. Alexander Dibelius, chairman of the supervisory board of Wincor Nixdorf, Dr. Dieter Düsedau, member of the supervisory board of Wincor Nixdorf, and Eckard Heidloff. Also, to facilitate the integration, it is intended that three Diebold executives will join the supervisory board of Wincor Nixdorf upon closing.

Transaction Structure

The transaction will be implemented through a voluntary public tender offer for all outstanding shares of Wincor Nixdorf. Diebold expects the offer to commence during the first quarter of 2016 after filing of Diebold’s registration statement on Form S-4 with the U.S. Securities and Exchange Commission and approval of the offer document by the German Federal Financial Supervisory Authority (Bundesanstalt fuer Finanzdienstleistungsaufsicht / BaFin). The offer is subject to certain closing conditions, including regulatory approvals and a minimum acceptance threshold of c. 67.6 percent of all existing Wincor Nixdorf ordinary shares (this corresponds, after deduction of treasury shares held by Wincor Nixdorf which will not be tendered, to c. 75 percent of all current voting stock (outstanding shares)).

Given that the mixed consideration consisting of cash and stock is offered by a US corporation, Diebold, Inc. does not expect that German withholding tax will apply to Wincor Nixdorf shareholders who are not tax-resident in Germany (unless the Wincor Nixdorf shares are held as part of business assets in Germany). For Wincor Nixdorf shareholders tax resident in Germany, the tax treatment of the voluntary public tender offer will follow generally applicable German tax principles, which may include German taxation of the cash component of the consideration as a dividend for certain shareholders tax-resident in Germany. A general summary of material tax consequences related to the participation in the voluntary public tender offer will be published as part of the offer documentation. For an individual analysis of their personal tax situation in connection with the acceptance of the voluntary public takeover offer, Wincor Nixdorf shareholders are advised to consult their tax advisors.

Upon successful completion of the offer and regulatory approvals, Diebold will consolidate the financial results of Wincor Nixdorf, and Diebold’s earnings will reflect its proportionate share of Wincor Nixdorf’s earnings.

Financing the Transaction
Diebold has committed financing in place. In addition to cash on hand, Diebold expects to raise approximately $2.8 billion to fund the transaction, refinance existing debt of both companies and provide liquidity. This permanent financing is expected to be comprised of a $0.5 billion senior secured revolver and $2.3 billion of senior secured term loans and unsecured notes.

Following the transaction close, the pro forma balance sheet is expected to have net debt/EBITDA of approximately 4x (6). The combined company intends to shift its capital allocation plans to focus on deleveraging the balance sheet to be consistently below 3x net debt/EBITDA by the end of year three. Commensurate with this approach and after the transaction closes, the combined company intends to pay a dividend per share at a rate of approximately one-third of Diebold’s current annual cash dividend per share, subject to market and other conditions. Moving forward, paying a dividend remains a part of the combined company’s philosophy of returning value to shareholders.

Credit Suisse and J.P. Morgan acted as financial advisers to Diebold, along with Sullivan & Cromwell LLP, who served as legal adviser. J.P. Morgan and Credit Suisse are also providing committed financing for the transaction. Goldman Sachs acted as financial adviser to Wincor Nixdorf, along with Freshfields Bruckhaus Deringer LLP, who served as legal adviser.

Details for Joint Press Call

The companies will jointly present their plans for the business combination on a media call taking place today at 10:00 a.m. CET (4:00 a.m. EST). The media call will take place in German. Participants should ask to join the “Diebold and Wincor Nixdorf Media Call”. Details on the call are as follows:

Germany Toll free: 0800 673 7932
US/CAN Toll free: 1 866 966 5335
UK Toll free: 0808 109 0700
Int’l Toll: +44 (0) 20 3003 2666

Diebold Analyst Call Details

Diebold will hold an analyst conference call to present this business combination during a webcast and conference call today at 8:00 a.m. EST (2:00 p.m. CET). Both the presentation and access to the call are available via Diebold’s website at http://www.diebold.com/DieboldWincor. A replay of the call will also be available on this website. The conference call will last approximately one hour. Participants should plan to dial in 10 minutes prior to the session. Details on the call are as follows:
US/CAN Toll free: 1 877 545 1403
Int’l Toll: +1 719 325 4893
Conference ID:6742172

Wincor Nixdorf Analyst Call Details

Wincor Nixdorf will hold an analyst conference call to present this business combination today at 11:30 a.m. EST (5:30 p.m. CET). The dial-in number is as follows:

Int’l Toll: +49-(0) 69-271340171

Diebold Contacts

Media Relations
Mike Jacobsen, APR
+1 330 490 3796
michael.jacobsen@diebold.com

Felix Morlock, Brunswick Group (Germany)
+49 69 2400 5510
fmorlock@brunswickgroup.com

Cindy Leggett-Flynn, Brunswick Group (U.S.)
+1 212 333 3810
clf@brunswickgroup.comInvestor Relations
Steve Virostek
+1 330 490 6319
stephen.virostek@diebold.com

Wincor Nixdorf Contacts

Media Relations
Andreas Bruck
+49 5251 693 5200
andreas.bruck@wincor-nixdorf.comInvestor Relations
Dr. Sabine Brummel
+49 5251 693 5050
sabine.brummel@wincor-nixdorf.com

About Diebold

Diebold, Incorporated (NYSE: DBD) provides the technology, software and services that connect people around the world with their money – bridging the physical and digital worlds of cash conveniently, securely and efficiently. Since its founding in 1859, Diebold has evolved to become a leading provider of exceptional self-service innovation, security and services to financial, commercial, retail and other markets.

Diebold has approximately 16,000 employees worldwide and is headquartered near Canton, Ohio, USA. Visit Diebold at www.diebold.com or on Twitter: http://twitter.com/DieboldInc.

About Wincor Nixdorf
Wincor Nixdorf is one of the world’s leading providers of IT solutions and services to retail banks and the retail industry. The main focus of the group’s comprehensive portfolio lies on business process optimization, especially in the branch operations of both sectors. Wincor Nixdorf has established a presence in around 130 countries around the globe, giving it an outstanding profile when it comes to customer proximity. The parent company has subsidiaries in 42 countries. The company also places great importance on building close relationships with sales partners that have an excellent knowledge of the local requirements and conditions on the customer side. Wincor Nixdorf has a total workforce of around 9,000 people. Over half of those are based outside Germany.

NOTES
(1) Calculated using fixed exchange ratio and five-day volume weighted average price of Diebold shares prior to Oct. 17, 2015 announcement that both companies had signed a non-binding term sheet regarding a potential business combination. Diebold’s five-day volume weighted average price was converted to euros using an exchange rate of 1.07 U.S. dollars to the euro. Shareholders of Wincor Nixdorf are advised to consult their tax advisors regarding the tax consequences in connection with the acceptance of the voluntary public tender offer.
(2) The exchange rate used to calculate total consideration and transaction value was 1.07 U.S. dollars to the euro.
(3) Non-GAAP operating margin is the percentage of GAAP operating profit margin adjusted for restructuring and non-routine items.
(4) Diebold prepares its financial statements in accordance with US GAAP while Wincor Nixdorf prepares its financial statements in accordance with IFRS. Revenues are derived from the combined revenues of both companies for the trailing 12 months, before making adjustments to convert Wincor Nixdorf’s financial results from IFRS to US GAAP. Wincor Nixdorf revenue has been converted at an exchange rate of 1.09 U.S. dollars to the euro.
(5) Non-GAAP earnings per share is GAAP earnings adjusted for restructuring and non-routine items compared to the combined company’s outstanding shares.
(6) Net debt/EBITDA is defined as long-term debt plus short-term debt minus cash and cash equivalents divided by earnings before interest, taxes, depreciation and amortization adjusted for restructuring and other non-recurring items for the trailing 12 months. This ratio assumes that the North American Electronic Security business has been divested.

IMPORTANT INFORMATION FOR INVESTORS AND SHAREHOLDERS
In connection with the proposed business combination transaction, Diebold intends to file a Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission (“SEC”) that will include a prospectus of Diebold to be used in connection with the offer by Diebold to acquire all outstanding Wincor Nixdorf shares. When available, Diebold will disseminate the prospectus to Wincor Nixdorf shareholders in connection with Diebold’s offer to acquire all of the outstanding shares of Wincor Nixdorf. Diebold also intends to file an offer document with the German Federal Financial Supervisory Authority (Bundesanstalt fuer Finanzdienstleistungsaufsicht) (“BaFin”).

INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE PROSPECTUS AND THE OFFER DOCUMENT, AS WELL AS OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC OR BAFIN OR PUBLISHED AT DIEBOLD’S WEBSITE AT WWW.DIEBOLD.COM UNDER THE INVESTOR RELATIONS SECTION, REGARDING THE PROPOSED BUSINESS COMBINATION TRANSACTION AND THE OFFER BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION.

You will be able to obtain a free copy of the prospectus and other related documents filed by Diebold with the SEC on the SEC’s website at www.sec.gov. The prospectus and other documents relating thereto may also be obtained for free by accessing Diebold’s website at www.diebold.com under the Investor Relations section. Following approval by BaFin, you may obtain a free copy of the offer document on BaFin’s website at www.bafin.de, and, along with an English translation thereof, at Diebold’s website at www.diebold.com under the Investor Relations section. Further you may obtain a copy of the offer document from Deutsche Bank Aktiengesellschaft, Taunusanlage 12, 60325 Frankfurt am Main, Germany, for distribution free of charge (also available from Deutsche Bank Aktiengesellschaft via e-mail to dct.tender offers@db.com or by telefax to +49 69 910 38794). In addition an English language press release and its German language translation will be published via an electronically operated information distribution system in the United States.
This document is neither an offer to purchase nor a solicitation of an offer to sell shares of Wincor Nixdorf or Diebold. Final terms and further provisions regarding the public offer will be disclosed in the offer document after the publication has been approved by BaFin and in documents that will be filed with the SEC. Investors and holders of Wincor Nixdorf shares, or of such instruments conferring a right to directly or indirectly acquire Wincor Nixdorf shares, are strongly encouraged to read the offer document and all documents in connection with the public offer as soon as they are published because these documents will contain important information.
No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and applicable European regulations, including the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz) and the German Securities Prospectus Act (Wertpapierprospektgesetz). Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer would not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.

CAUTIONARY STATEMENT ABOUT FORWARD LOOKING STATEMENTS
Certain statements contained in this communication regarding matters that are not historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future including, without limitation, the proposed business combination with Wincor Nixdorf and the offer. Such forward-looking statements are based on the current expectations of Diebold and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements. Such forward-looking statements may include statements about the business combination and the offer, the likelihood that such transaction is consummated and the effects of any transaction on the businesses and financial conditions of Diebold or Wincor Nixdorf, including synergies, pro forma revenue, targeted operating margin, net debt to EBITDA ratios, accretion to earnings and other financial or operating measures. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and the development of the industries in which Diebold and Wincor Nixdorf operate may differ materially from those made in or suggested by the forward-looking statements contained in this document. In addition, risks and uncertainties related to the contemplated business combination between Diebold and Wincor Nixdorf include, but are not limited to, the expected timing and likelihood of the completion of the contemplated business combination, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the contemplated business combination that could reduce anticipated benefits or cause the parties not to consummate, or to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement or the contemplated offer, the risk that the parties may not be willing or able to satisfy the conditions to the contemplated business combination or the contemplated offer in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the contemplated business combination, the risk that any announcements relating to the contemplated business combination could have adverse effects on the market price of Diebold’s common shares, and the risk that the contemplated transaction or the potential announcement of such transaction could have an adverse effect on the ability of Diebold to retain and hire key personnel and maintain relationships with its suppliers, and on its operating results and businesses generally. These risks, as well as other risks associated with the contemplated business combination, are more fully discussed in a prospectus that will be included in the Registration Statement on Form S-4 that will be filed with the SEC in connection with the contemplated business combination and the offer. Additional risks and uncertainties are identified and discussed in Diebold’s reports filed with the SEC and available at the SEC’s website at www.sec.gov. Any forward looking statements speak only as at the date of this document. Except as required by applicable law, neither Diebold nor Wincor Nixdorf undertakes any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
This communication outlines certain key German tax principles related to the participation in the voluntary public tender offer that may be or may become relevant to holders of shares of Wincor Nixdorf. The discussion of German tax considerations is of a general nature only and does not constitute a comprehensive or definitive explanation of all possible aspects of German taxation that may be relevant for shareholders of Wincor Nixdorf. Furthermore, this communication does not address non-German tax considerations that may apply to a shareholder that is a tax resident of a jurisdiction other than Germany. This press release is based upon domestic German tax laws in effect as of the date hereof. It is important to note that the legal situation may change, possibly with retroactive effect, and that no assurance can be given regarding the tax treatment of this transaction by fiscal authorities and the courts.

SOURCE: Wincor Nixdorf AG
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Wincor Nixdorf expands its cash management capacities in the Netherlands

Paderborn, Germany, 2015-10-8 — /EPR Retail News/ — By acquiring Brink’s CiT operations in the Netherlands, Wincor Nixdorf is expanding its cash management capacities in the Netherlands. The primary objective of the takeover is to provide one-stop cash management and cash logistics services to leading Dutch banks that have signed long-term agreements for them. Wincor Nixdorf is acquiring the business, infrastructure and employees of Brink’s Netherlands and will integrate them with the business of SecurCash, its subsidiary specialized in cash management and cash logistics. In the last fiscal year, both companies together already generated a business volume of €70 million. Once the acquisition is complete and activities are combined, Wincor Nixdorf will provide around 40 percent of cash management and logistics services in the Netherlands.

The acquisition will produce the necessary capacity expansion for the provision of cash handling services to four major banks. In addition, it will bring together two companies that perfectly complement each other. As a result of the acquisition, the new SecurCash will also profit from synergies from the business with banks and retail companies. These opportunities will be created by the broad customer base that Brink’s Netherlands has among Dutch retailers. After the acquisition has been completed, the company will cover the entire cash logistics chain in the cash centers located throughout the Netherlands and have more than 600 employees.

One of Wincor Nixdorf’s strategic goals is to expand its business with ambitious and managed services. “As a partner of banks and retailers, our cash handling services will be seamlessly linked to our IT services to operate systems and IT infrastructures and add profitable services to our value chain end-to-end,” said Eckard Heidloff, the President and CEO of Wincor Nixdorf AG. Bank and retail customers will profit from process optimization of a provider of hardware, software and services along the entire cash logistics chain, Heidloff said.

The Dutch anti-trust authority (Autoriteit Consument en Markt – ACM) approved the acquisition on September 15, 2015. Brink’s Netherlands was spun off by its American parent company in 2014 and has operated since then as an independent company.

SecurCash, a subsidiary of Wincor Nixdorf, has been providing cash handling services in the Dutch market since 2006. The company is based in Rotterdam.

Press Contact

Press/Financial Press

Andreas Bruck
Head of Corporate Communications
Phone: +49 5251 693 5200
E-Mail: andreas.bruck@wincor-nixdorf.com

Press/Trade Press

Dr. Thomas Daubenbüchel
Head of Press and Editorial Office
Phone: +49 5251 693 5212
E-Mail: thomas.daubenbuechel@wincor-nixdorf.com

Ulrich Nolte
Phone: +49 5251 693 5211
E-Mail: ulrich.nolte@wincor-nixdorf.com

Trade Press

Claudia Wendorff-Goerge
Phone: +49 5251 693 5203
E-Mail: claudia.wendorff-goerge@wincor-nixdorf.com

Wincor Nixdorf, AGS Transact Technologies Limited to produce cash dispensing machines locally in India

Paderborn, Germany, 2015-9-21 — /EPR Retail News/ — Wincor Nixdorf and AGS Transact Technologies Limited (AGS) have signed an agreement that includes the provision of a total of 40,000 cash dispensers from Wincor Nixdorf in India within the next two years. Furthermore, as part of their continuous efforts to offer banking technology products to Indian consumers, the companies have entered into a manufacturing cooperation agreement for producing cash dispensing machines locally in India.

Taking inspiration from the government’s “Make in India” scheme and in line with the financial inclusion activities in the country, an ATM tailored to the requirements of remote rural areas will be developed and will feature only important core functions. A sizeable part of the value-creation process will be migrated, with AGS taking over the most of production in India.

The locally manufactured machines, without compromising on technology and quality, will enable a stronger payments infrastructure in smaller towns and cities of India, thereby making both AGS and Wincor Nixdorf important contributors to the financial inclusion initiative launched by the Indian government in recent times. The manufacturing facility is currently being established in Daman (Union Territory of India) with a capacity of 30,000 units per year.

“The agreement concluded between our companies will help to strengthen our competitive position in the rapidly growing Indian market for ATMs. We have thus created a solid foundation for Wincor Nixdorf to operate at a more profitable level in India than in the past and further expand the good market position we have already created for ourselves,” said Eckard Heidloff, CEO & President of Wincor Nixdorf. Mr. Ravi B Goyal, Chairman and Managing Director of AGS Transact Technologies Limited, amends: “With the government of India laying special emphasis on making India a manufacturing hub and trying to include a large part of the Indian population in the formal financial system, this agreement concluded between our companies is well-timed.”

By the end of 2019, approximately 2.1 million ATMs are expected in the Asia Pacific region. Net growth in India is expected to be approximately 295,000 ATMs. Over the next four years, approximately 70% of ATMs shipped to the Asia Pacific region will go to China and India. By 2019, China and India will represent approximately two-thirds of Asia Pacific’s installed ATM base. (Source: Retail Banking Research (RBR), Global ATM Market and Forecasts to 2019, Asia Pacific).

About AGS Transact Technologies
AGS is one of India’s leading providers of a wide spectrum of payment solutions and technology products for the banking, retail and petroleum sectors. We provide customized products and solutions comprising ATMs and other automated payment products, related maintenance and managed services, cash management services and transaction switching services. With over 40,000 ATMs under management, our operations cover more than 700 cities and towns, reaching out to over 100,000 customer touch points across India. For more information visit: www.agsindia.com

Disclaimer
AGS Transact Technologies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares and has filed a Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the SEBI at www.sebi.gov.in and the respective websites of the Book Running Lead Managers at www.axiscapital.co.in, www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, www.hdfcbank.com, www.icicisecurities.com and www.investmentbank.kotak.com. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in future including the section titled “Risk Factors”. Potential investors should not rely on the Draft Red Herring Prospectus filed with the SEBI in making any investment decision.

Press Contact

Press/Financial Press

Andreas Bruck
Head of Corporate Communications
Phone: +49 5251 693 5200
E-Mail: andreas.bruck@wincor-nixdorf.com

Press/Trade Press

Dr. Thomas Daubenbüchel
Head of Press and Editorial Office
Phone: +49 5251 693 5212
E-Mail: thomas.daubenbuechel@wincor-nixdorf.com

Ulrich Nolte
Phone: +49 5251 693 5211
E-Mail: ulrich.nolte@wincor-nixdorf.com

Trade Press

Claudia Wendorff-Goerge
Phone: +49 5251 693 5203
E-Mail: claudia.wendorff-goerge@wincor-nixdorf.com

Wincor Nixdorf gears up for more expansive Software business in Brazil and will work with Perto in the Hardware sector

Paderborn, Germany, 2015-8-6— /EPR Retail News/ — Wincor Nixdorf, Europe’s leading supplier of IT solutions for banks and retailers, is gearing up for more expansive Software business in Brazil. At the same time, it plans to work in cooperation with Perto in the Hardware sector. On the basis of an agreement recently concluded between both parties, the Brazilian company will take on the task of final production of Wincor Nixdorf systems for customers in Brazil. Headquartered in Gravatai, Rio Grande do Sul, Perto specializes in automation technology and IT services for banks and retailers. “In working together, we will be able to improve substantially both our delivery times and our channels of supply for customers in Brazil,” said Eckard Heidloff, CEO & President of Wincor Nixdorf, on signing the cooperation agreement on August 3, 2015, in Gravatai.

Under the terms of this agreement, Perto’s manufacturing sites will handle the configuration and final production of Wincor Nixdorf ATMs destined for the Brazilian market. For this purpose, Wincor Nixdorf will supply all requisite core components and provide extensive technical support. At the same time, the German company will assure compliance with its quality standards. Additionally, the two companies intend to work in collaboration with one another in the field of ATM technology for the purpose of evolving Brazil’s banking branch operations in line with future requirements. To this end, Perto will source Wincor Nixdorf’s leading cash recycling technology on the basis of an OEM agreement and integrate it within its own systems. “The results of initial customer projects have shown that Brazilian banks are increasingly becoming more receptive to cash recycling, as it offers greater process efficiency and security,” said Thomas Elbling, CEO of Perto. “Perto’s level of integration and presence in Brazil, complemented by the cash recycling expertise of Wincor Nixdorf, is a winning combination when it comes to establishing a strong market position in this field,” Elbling continued.

Against the backdrop of efforts to achieve greater efficiency and security within ATM networks, Wincor Nixdorf has identified increasing demand for Software and Professional Services in Brazil. “Given the tremendous pressure on costs, we are seeing a global trend towards general standards in application software associated with ATMs, together with a departure from proprietary, bank-specific solutions,” said Eckard Heidloff. Wincor Nixdorf is committed to expanding its business significantly in Brazil when it comes to application software that can be installed on ATMs of various manufacturers (so-called multivendor software). According to studies conducted by independent British market research specialist Retail Banking Research (RBR; 2014), Wincor Nixdorf has already positioned itself as the outright market leader in this field in Latin America. In Brazil alone multivendor software is already installed on one in four of the approx. 160,000 ATMs deployed throughout the country. Another focal point of Wincor Nixdorf’s software business in Brazil – covered by the company’s office in Sao Paulo – is the aspect of security.

About Perto
Perto develops technology products and services for banks and retailers. The company headquarters are located in Gravataí, near the city of Porto Alegre in southern Brazil. Engineering, production, and sales are housed in modern facilities totaling 44,000 square meters. Perto has its own sales and service centers in 22 major Brazilian cities and a certified network of authorized business partners and service providers that cover all the countries to which it exports.

Perto is active in the segments of banking automation, self-service terminals, and payment systems, in addition to supplying cash dispensing mechanisms and depository mechanisms on an OEM basis.

About Wincor Nixdorf
Wincor Nixdorf is acknowledged as one of the world’s leading providers of IT solutions and services for retail banks and retailers. The company’s extensive portfolio is aimed at optimizing business processes relating to bank branches and retail stores. Ultimately, the objective is to streamline costs, reduce complexity, and improve the level of service for end customers.

Wincor Nixdorf has also been drawing on its expertise from its core business with banks and retail companies to expand into related markets. These include postal companies and service station operators.

Wincor Nixdorf has established a market presence in more than 130 countries worldwide, 42 of which are served by its own subsidiaries. In total, the Group employs around 9,000 people.

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Wincor Nixdorf commissioned IDC study: In 2017 banks worldwide will invest 16 billion USD in branch transformation and the new technologies it requires

International Management Seminar 2014

Paderborn, Germany, 2014-10-23— /EPR Retail News/ — According to a study carried out on behalf of Wincor Nixdorf by the American company International Data Corporation (IDC), a global leader in IT market research and consulting, in 2017 banks all over the world will invest some 16 billion U.S. dollars in branch transformation and the new technologies it requires. Jens Bohlen, member of the Board of Directors of Wincor Nixdorf AG with responsibility for the company’s global banking business, presented the study’s results at the company’s International Management Seminar, held from October 22 – 24 in Istanbul. He noted that the bank branch continues to be very valuable as a delivery channel, but it must transform itself. Key factors in the success of branch transformation projects, according to the study, are differentiation in branch type within the branch network, an improved customer experience, and the option of carrying out cash and other standard transactions quickly and easily.

“Worldwide demand for automation technology is rising. We want to support banks around the world through software in particular in implementing branch transformation projects, optimizing omnichannel sales and improving the customer experience,” said Wincor Nixdorf’s CEO Eckard Heidloff. It is Wincor Nixdorf’s goal to double its software sales over the medium term to some 600 million euros.

In his remarks, Heidloff also offered a report on the status of the ATM Security Association, which was founded on the basis of an initiative begun by Diebold and Wincor Nixdorf. The association’s goal is to create security standards for the self-service delivery channel, to develop countermeasures for known threats to its security, and to make them available around the world. The formal process of founding the association is now complete, and following a presentation by the founding members in London at the ATMIA Security Conference last week, 70 inquiries and applications for membership were received from banks, manufacturers and component suppliers. Feedback on the initiative was unanimously positive, according to Heidloff.

IDC study: integrating the branch in the digital world
The study maintains that the success or failure of a branch network is dependent on its acceptance by the customer. To ensure its success, not only do the branch, online and mobile channels need to offer perfect service individually, they must also be completely integrated into the digital world, which is where more and more customers spend their time and manage their banking business. This is an enormous challenge, but it also opens up great opportunities: experience shows that customer satisfaction increases when the branch infrastructure is improved.

“The results of the IDC study suggest that an optimally positioned branch network and the use of the latest technology can bring a 25% increase in customer contacts with a simultaneous gain in efficiency of around 30%,” says Bohlen. According to the study, consumers benefit from 24/7 service and banks profit from extensive process automation and thus lower costs.

In the process, innovative self-service technology serves as a bridge to other channels. Customizable screens and intuitive touch interfaces at self-service terminals, for example, ensure fast transactions. Another example is ATMs that can be operated via smart phone: the customer authorizes a withdrawal using a mobile app and receives cash at the ATM without the need for an ec or credit card.

The provision of a wide array of services and consulting even in mini branches or unstaffed self-service points is enabled through modern technologies such as video conference systems integrated in self-service terminals: at the touch of a button, the customer can communicate directly with a bank consultant who specializes in the topic of interest. This technology also enables extended self-service options such as opening an account. Video technology helps bridge distances, making it possible to offer consulting services in rural areas and ensure an extensive presence across all branch types.

Self-service with the human touch
Together with a British bank, Wincor Nixdorf has developed a concept for assisted self-service. The “assisted teller counter” automates a variety of standard transactions such as withdrawals and deposits of banknotes and coins, document printing, and check deposits. A barcode reader and a NFC reader are integrated to simplify the handling of transactions such as bill payment. The system features two large 18.5-inch touchscreens mounted at different heights to enable easier use by people with a wide variety of physical needs. Customers can request assistance simply by pressing a button on the device. Branch staff receive these requests via an iPad and can provide help immediately. “We are the first provider in the world to complete a large-scale installation of a solution like this one, which allows the bank to offer all its standard transactions on self-service systems with a high degree of customer orientation and efficiency,” says Bohlen.

Software ensures ease of operation at the ATM
Customer orientation is also the focus of two software projects presented by Hakan Özçubukcu, General Manager of Wincor Nixdorf Turkey. A joint team composed of both staff from the Turkish financial institution Halkbank and Wincor Nixdorf employees is currently working on a project to optimize the ATM user interface. One of the bank’s requirements is to enlarge the customer panel so that it is easier for older users to read. The bank is also implementing Wincor Nixdorf’s ProFlex software, which allows banks to customize the user interfaces and services of their self-service systems and thus free themselves from the download limitations imposed by their switch operators. One of the pleasant side effects of deploying ProFlex is that communication between the individual ATMs and the central computer is reduced, which in turn cuts the bank’s network costs. Garanti Bank also uses Proflex to integrate its more than 4000 ATMs from different manufacturers into the bank’s omni-channel architecture. “Our software makes it easy for the bank to implement new functions quickly across its entire ATM network,” explained Özçubukcu.