QSI Security acquisition by Diebold could be one of many

Thursday, June 5, 2003

June 5, 2003

LONDONDERRY, N.H. - In what could be the first of several acquisitions in the coming months, systems integrator Diebold acquired QSI Security last week as part of plans to bring additional growth to the company.

The purchase of QSI Security, a seven-year old systems integrator proficient in the surveillance market, marks Diebold’s first acquisition since it bought the assets of now defunct Mosler more than a year ago. Company officials did not release the purchase price for QSI Security or its size.

"What it brings for Diebold is additional revenue, but more importantly all their associates were offered positions with Diebold. There’s a lot of expertise with regards to those QSI associates on the product side of the house," said Richard Baggot, vice president of electronic security and currency systems group for Diebold.

Though mostly proficient in installing surveillance systems, QSI Security also offered access control services. The company’s primary focus has been to serve the financial market.

Now with QSI Security’s expertise and customer base, Diebold intends to offer additional services, such as alarm systems and alarm monitoring through its U.L. central station. QSI had used a number of different third party providers for its monitoring.