Diebold to acquire TFE Technology Holdings

Diebold Inc. will acquire TFE Technology Holdings LLC, a third-party maintenance provider of network hardware and service solutions, the company announced this week. Terms of the deal were not disclosed.

The acquisition of TFE Technology Holdings of Bountiful, Utah, will enhance the North Canton, Ohio, company's hardware and software capabilities in IT support, network infrastructure management and security.

The companies have complementary security offerings and a mutual customer base within the government and commercial markets, according to Diebold.

John Walker, TFE president, chief executive officer and director, will join Diebold and be responsible for daily operations of TFE.

TFE has about 250 employees and annual revenue of $34 million. The company has operations in all 50 states, Puerto Rico and Guam.

Diebold Inc., a provider of integrated security, services and self-service delivery systems, has more than 13,000 employees and annual sales of $2.1 billion.