Diebold does it again, buys Va. integrator

Thursday, July 29, 2004

July 29, 2004

NORTH CANTON, Ohio - Systems integrator Diebold Inc. appears to be on an acquisition streak. This week the company announced it bought Richmond, Va.-based Applied Systems Technologies, a deal that follows on the heels of its purchase of TFE Technology.
The purchase represents the third this year for the systems integrator. Along with buying TFE Technology, Diebold bought a company called NCI in Virginia earlier this year.
“From a corporate perspective, we’ve embraced the acquisition mode that we’re in,” said Richard Baggot, vice president of Diebold’s Electronic Security and Currency Systems Group.
Terms of the acquisition of Applied Systems Technologies were not released, including the size of the business. But according to Baggot, the deal provides Diebold with additional strength in the Virginia market.
Baggot said Dick Worrall, the owner of Applied Systems Technologies, and other employees from the company, will remain onboard. The plan is for Applied Systems Technologies to move into NCI’s facility.