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Newsbit
CLEVELAND, Reuters [WN] : Diebold Inc. <DBD.N>, a major maker of Automated Teller Machines, is keeping up its search for other ATM makers but is also watching its budget and is not prepared to spend up to $1.5 billion on an acquisition, a Diebold spokesman said on Thursday.
"We have not made a secret of wanting to acquire ATM makers. We see the industry consolidating and we plan to be a consolidator," spokesman John Kristoff said. However, he said that given the company's current financial situation it "was not in a position to pay" $1.5 billion for a company.
He was responding to questions about media reports Diebold was in talks with the German industrial group Siemens AG <SIEGn.DE> to buy Siemens' Nixdorf unit for about $1.5 billion without taking on the cash register part of the business.
In Munich Thursday, Siemens said it would announce the sale of Nixdorf within weeks but declined to name potential buyers.
Siemens is undergoing a major restructuring that involves spinning off nine units with sales totaling 17 billion marks by next March.
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