ATM manufacturer Diebold Nixdorf has agreed to sell its legacy UK Diebold business to local banking solutions provider Cennox Group in order to comply with the requirements set by the UK Competition and Markets Authority (CMA).
The companies did not disclosed the financial terms of the transaction.
The legacy Wincor Nixdorf UK and Ireland business will now be integrated into the global Diebold Nixdorf operations. The sale includes the firm’s retail business that was not put under regulatory review.
A total of 67 employees of the legacy business will join Cennox as part of the deal.
Diebold Nixdorf president and CEO Andy Mattes said: “Our team in the U.K. and Ireland, totaling 900 people strong, looks forward to broadening relationships and providing innovation for our customers — enabling an ‘always on’ experience for consumers and shaping the future of connected commerce.
“We are very pleased to put this final antitrust requirement of our business combination behind us — and excited to fully move forward in the U.K. and Ireland as Diebold Nixdorf.”
Diebold Nixdorf was formed following the merger of US ATM manufacturer Diebold and German rival Wincor Nixdorf in August 2016. However, later that year CMA cited competition concerns over the merger.