TASC buy gives Diebold a global reach
NORTH CANTON, Ohio--Security systems integrator Diebold recently completed one its most significant acquisitions to date when it bought TASC Security in late April, an integrator with an extensive reach in Europe and Asia Pacific and 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 customers with locations globally. TASC, a London-based company with $35 million in revenue in 2004, operates offices throughout Europe, the Middle East, Africa and Asia Pacific. Its 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 reach and network 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.
For Diebold, the acquisition of TASC is one of more than half a dozen deals completed in more than a 12-month period.
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.
For more on this story see the June issue of Security Systems News.