Cbord goes to head of the class with purchase
NORTH CANTON, Ohio--Looking to sharpen its approach within the security market, systems integrator Diebold sold its campus card and housing management systems division to the Cbord Group for approximately $38 million.
Cbord gains a stronger foothold in the higher education space, as a result of the deal. Based in Ithaca, N.Y, the company supplies campus card, housing and foodservice management systems for the college and university market.
The former division of Diebold provides card systems for access control, electronic payments and related identification uses. Last year, the unit reported approximately $24 million in revenue. As a whole, Diebold's revenue was $2.4 billion in 2004.
Diebold said the acquisition helps it concentrate on international expansion and other segments of the security industry, including financial, government, retail and commercial markets.
The unit employs 140 people, all of which will be offered jobs by Cbord.