Diebold to Acquire Global Election Systems

Diebold Inc. has signed a nonbinding letter of intent to acquire Global Election Systems Inc., Diebold announced June 21.

The agreement in principle includes a stock-for-stock transaction valued at $1.50 per common share of Global Election Systems, subject to a maximum of .05 Diebold shares and a minimum .04 Diebold shares per Global Election Systems shares. Global has about 21 million shares outstanding.

Diebold also will provide $5 million of immediate financing to Global Elections Systems and has agreed to produce more than 500 touch-screen voting terminals to fulfill an existing contract held by Global Elections Systems.

The acquisition is expected to be completed in the third quarter.

Global Elections Systems, McKinney, Texas, manufactures voting machine equipment. The company, which has about 100 employees, has provided optical scan and touch-screen voting machines to more than 850 jurisdictions in North America.

Diebold Inc., North Canton, Ohio, is a producer of automated teller machines. The company has about 12,500 employees and had sales of $1.7 billion in fiscal 2000, according to Hoover's Online of Austin, Texas.

About the Author

William Welsh is a freelance writer covering IT and defense technology.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.