This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Diebold Acquires Turkey-Based Services Provider Altus

Stocks in this article: DBD

NORTH CANTON, Ohio, Oct. 22, 2012 /PRNewswire/ -- Diebold, Incorporated (NYSE: DBD) today announced that it has acquired Altus, an industry-leading multivendor service provider in Turkey. Headquartered in Ankara, Altus was founded in 2008 to offer various hardware and software-related services to the financial industry and today is one of the leading companies in its field.  

(Logo: http://photos.prnewswire.com/prnh/20080725/DIEBOLDLOGO)

Altus provides information technology (IT) services to the financial sector through 32 service centers, covering approximately 80 cities in Turkey with a team of more than 150 professionals specializing in automated teller machine (ATM)-focused services.  Altus also provides services for computer-related peripherals, providing a wide breadth of expertise to support the Turkish market.  

As part of its aggressive growth strategy in Turkey and the surrounding region, Diebold is combining its world-renowned competencies in financial self-service with a dynamic company to strengthen its position and effectively develop its business in this growing market.  According to a report issued by Retail Banking Research (RBR) earlier this year, the ATM installed base in Turkey grew by 4,700 units, or 17 percent, from 2010 to 2011, making this the fastest growing market on an absolute unit basis in the Western European region.

"Diebold is demonstrating its dedication to the Turkish market by extending the scope of its services in Turkey," said Dave Wetzel, Diebold vice president and managing director for Europe, the Middle East and Africa (EMEA). "Altus represents the top multivendor service provider in Turkey, owning a significant portfolio of contracts with both financial institutions and the government.  With its invaluable expertise and knowledgable associates, Altus will enrich the Diebold brand in Turkey and create value for our customers. By integrating the entire Altus team and its leadership into Diebold Turkey, we'll have a very strong team working together to achieve our goals."

Altus chief executive officer Bulent Tellioglu will join Diebold as the company's country manager in Turkey. "I am very proud to join Diebold and be part of an organization that will offer the Turkish market added value on many new levels," Tellioglu said. "By joining forces, Altus and Diebold's world-class capabilities will offer the market strategic service advantages. I look forward to working with a globally competitive and united Diebold Turkey team to challenge the current market standards and compete at the highest level."

About DieboldDiebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs approximately 17,000 associates with representation in nearly 90 countries worldwide and is headquartered in the Canton, Ohio region, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's website at www.diebold.com or follow the company on Twitter: http://twitter.com/diebold_inc

SOURCE Diebold, Incorporated

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,807.72 -2.34 -0.01%
S&P 500 2,067.58 +4.08 0.20%
NASDAQ 4,748.2660 +35.2960 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs