Diebold Nixdorf has announced two joint venture agreements in the Chinese market that will allow the newly merged company to operate in that market.
Both joint ventures were initiated before the merger between Diebold Inc. and Wincor Nixdorf, and were announced in separate press releases.
Wincor Nixdorf AG finalized an agreement with Aisino Corp. that allows the newly combined Diebold Nixdorf to develop, produce and market an extensive range of hardware, software and services for banks and retailers in China, in accordance with Chinese regulations.
Upon closing the transaction, Diebold Nixdorf will hold a 43.6 percent minority interest in the joint venture, which Wincor Nixdorf first announced on June 22.
Diebold Inc. finalized a joint venture agreement with the Inspur Group that allows the newly combined Diebold Nixdorf to better provide a complete range of self-service solutions within the China market, including ATMs, noncash terminals, and kiosks, in accordance with Chinese regulations.
The press release stated Diebold Nixdorf will serve as the exclusive distributor outside of China for all products developed by the new joint venture. These products will be sold under the Diebold Nixdorf brand.
Upon closing the transaction, Diebold Nixdorf will hold a 40 percent minority interest in the joint venture, initially announced by Diebold on Dec. 18.