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Diebold Nixdorf

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Competitors: NCR

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Diebold, Incorporated is a manufacturer of comprehensive self-service and security systems for banks and financial institutions. Diebold was founded in 1859 as a company that manufactured security systems for banks. In 1967, at a conference on automation organized by the American Banking Association, Diebold first presented a prototype of a multifunctional ATM. In 2015, Diebold Incorporated and Wincor Nixdorf AG entered into a business combination agreement. The result is Diebold Nixdorf, which controls about 35% of the global ATM market.

2022: Losses of $80 million from the consequences of the conflict in Ukraine

The world's largest ATM manufacturer Diebold Nixdorf calculated that due to events To Ukraine in 2022 it will lose about 80 million. dollars This was announced on May 10 at a web conference for investors by Jeff Rutherford[1]Executive Vice President and CFO of Diebold Nixdorf.

According to him, the company's performance will be affected by a failure in the supply chains, unfavorable changes in the exchange rates of national currencies in the markets of presence, as well as events in Ukraine. Moreover, due to exchange rate fluctuations, the company will lose $160 million, which is twice as much as due to the suspension of activities in Russia and Ukraine. In total, Diebold Nixdorf plans to earn $3.7-3.9 billion in the global market in 2022. According to the company, its total revenue in Russia and Ukraine in 2021 was about 2% of total revenue.

The company announced[2] March 17[3] on the termination[4] the supply of banking equipment to Russia in connection with the ongoing special operation.

According to Jeff Rutherford, in the 1st quarter of 2022, Diebold Nixdorf has already lost $16.8 million due to business shutdowns in Russia and Ukraine. This negatively affected the overall financial performance of the company, whose revenue despite the large volume of orders in the 1st quarter of 2022 was $830 million, which is 12% lower than a year earlier.

Diebold Nixdorf will lose about $80 million due to events in Ukraine in 2022. The photo is personalcapital.com

At the same time, the Russian ATM market has been shrinking since 2015. This is due to the launch of payment applications of leading banks and the interbank fast payment system. According to the central bank, by October 2021 they remained in Russia a little more than 191.3 thousand, for comparison, in 2015 there were 222.8 thousand ATMs in the country.

Another North American manufacturer of equipment for conducting financial transactions NCR estimated that due to the situation in Ukraine in 2022 it will receive less than about $90 million and $15 million in 1 quarter. Read more here

2020: Ransomware Virus Attack

On May 11, 2020, it became known about a ransomware virus attack on Diebold Nixdorf, which led to a malfunction of some of the company's systems.

The first to report the cyber attack was information security specialist Brian Krebs. According to him, the virus penetrated the IT infrastructure of Diebold Nixdorf on April 25, 2020 and affected services with which more than 100 customers of the company work.

ATM maker Diebold Nixdorf attacked by ransomware virus

As noted by SiliconANGLE, by May 2020, Diebold Nixdorf is the largest manufacturer of ATMs in the American market and occupies approximately 35% of the world.

Diebold Nixdorf said the cyber attack did not affect ATMs, customer networks and global operations, but disrupted a system designed to serve equipment by field experts on the ground.

As the investigation showed, the attack used the ProLock ransomware, formerly known as PwndLocker. The amount of the required ransom is not specified, but in the case of ProLock, it is usually six-digit ($175-660 thousand, depending on the scale of the network). According to Diebold Nixdorf, the company decided not to follow the lead of the criminals and refused to pay.

According to the company's CTO in computer security at Emsisoft , Fabian Vosar, this is for the better as "current versions of the ProLock decryption tool will damage large files such as database files."

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This case shows that the ransomware virus can affect companies regardless of their size and technical structure, says Erich Kron, an expert at KnowBe4 (specializing in cybersecurity training services). - In this case, Diebold is fortunate to have segmented its network, limiting corporate network damage and sparing other critical network systems and customer exposure.[5]
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2017:1 million ATMs

According to an international study conducted by Retail Banking Research (RBR), banking equipment manufacturer Diebold Nixdorf is the only company in the world to produce more than 1 million ATMs installed in different countries of the world in autumn 2017. According to RBR estimates, Diebold Nixdorf now owns 32% of the total global ATM market.

2016: Diebold and Wincor Nixdorf merger

In August 2016, Diebold announced[6] its merger with Wincor Nixdorf AG. From August 16, the combined company will begin functioning as Diebold Nixdorf. The Competition Protection and Markets Authority (CMA) said that, following an initial investigation, Diebold Nixdorf has only one serious competitor in the UK ATM market - NCR . Given the low probability of a new player in this market, the CMA believes that the merger could lead to a significant weakening of competition (SLC). This decision contradicts the actions of the antimonopoly authorities of other countries, however, according to the CMA, a special situation has developed in Britain in terms of the number of suppliers and barriers to entering the market. Diebold Nixdorf has until August 26 to offer its options for resolving the issue identified by the CMA. In case of failure to comply with the requirements of the supervisory authority, a detailed investigation will be carried out in the next, second stage.

The Competition Protection and Markets Authority (CMA) has referred the merger of Diebold and Wincor Nixdorf worth 1.8 billion dollars to a detailed investigation due to the fact that American the ATM manufacturer did not offer options for compliance with antitrust laws regarding the supply of client ATMs to the UK. The supervisory authority believes that the takeover of the German Wincor Nixdorf will lead to a noticeable decrease in competition in the British ATM market, in which NCR will remain the only serious competitor[7]This step contradicts the actions of the antimonopoly authorities of other countries, however, according to the CMA, Great Britain a special situation has developed in the sense of the number of suppliers and barriers to entering the market.

Under the terms of the takeover offer, Wincor Nixdorf shareholders received €38.98 in cash plus 0.434 Diebold common shares in exchange for each Wincor Nixdorf share. The total offer consideration consists of approximately €891.7 million in cash and 9,928,514 newly issued Diebold common shares. To the extent that Wincor Nixdorf shareholders are entitled to fractional shares, those fractional entitlements will be aggregated and sold in the market and the proceeds of such sale distributed pro rata no later than Aug. 29, 2016. The Diebold common shares issued to Wincor Nixdorf shareholders commenced trading on the NYSE under the symbol DBD, and all Diebold common shares commenced trading on the Frankfurt Stock Exchange under ISIN US2536511031 (symbol DBD).In the United Kingdom, the Diebold and Wincor Nixdorf brands and operations will remain distinct pending completion of the Competition and Markets Authority's review of the transaction.

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Ticker company on the exchange: NYSE:DBD