Diebold Goes to tasc to build a global reach
NORTH CANTON, Ohio--Security systems integrator Diebold recently completed one of its most significant acquisitions to date when it bought TASC Security, an integrator with an extensive reach in Europe and Asia Pacific, but only one location in the United States.
The transaction is important for Diebold because it provides it with a global reach for the first time and the ability to serve multi-national customers. TASC, a London-based company with $35 million in revenue in 2004 and 150 employees, operates offices throughout Europe, the Middle East, Africa and Asia Pacific. TASC's only location in the United States is in San Francisco, a branch that opened in 2002.
"This is a huge step for us right now," said Richard Baggot, vice president of Diebold's Electronic Security and Currency Systems Group. "We're now on a global basis and are going to be able to bring products and solutions to multi-national companies."
That expanded capability is thanks to TASC's expertise. The privately held company came from the network cabling industry, with a background in IT, before entering the security market in 1988. Today, its focus lies in enterprise-level security systems and clients whose locations span the world.
That transaction, according to Jack Mallon, a security industry analyst and founder of Mallon Associates, reflects two trends. "One is the escalating move by large CAP companies to expand their security operations and two is the further globalization of the security industry," he said.
For Diebold, the acquisition of TASC is one of more than half a dozen deals completed in more than a 12-month period. In August 2004 it bought Antar-Com, a White Plains, N.Y., systems integrator known for designing and installing enterprise-level security systems. Other acquisitions include Alarmas Adler, a northern Mexico security service provider, Applied Systems Technologies and TFE.
While Diebold gains a global reach for its security business, TASC also stands to benefit from a larger footprint, specifically in North America.
"There was a mutual interest in this," said Myles Hick, chief executive officer of TASC, which will migrate to the Diebold Enterprise Security Systems' name over the next few months. Hick will serve as president of the TASC division.
With the two businesses now combined, Hick said the company can truly service customers on a global level.
"For a lot of our customers that are U.S.-based that have facilities now outside the United States, we now have a solution for them where they can get one-stop shopping from Diebold," concurred Baggot.