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June 27, 2014updated 02 May 2022 12:52pm

Diebold to purchase Cryptera to boost ATM security capabilities

Diebold has inked an agreement to buy Cryptera to boost its position in automated teller machine (ATM) security solutions and drive future innovation and excellence in the encrypting PIN pad (EPP) technology arena.

By Verdict Staff

Diebold has inked an agreement to buy Cryptera to boost its position in automated teller machine (ATM) security solutions and drive future innovation and excellence in the encrypting PIN pad (EPP) technology arena.

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Established in 1985, Cryptera is engaged in research and development of secure payment technologies, mainly in the field of EPP technology.

Following completion of the transaction, Cryptera will trade as a separate entity with its own business plans and scope, and will continue to be an original equipment manufacturer (OEM) of EPP solutions for Diebold and its other existing clients.

Diebold plans to use Cryptera’s development and product capabilities to expand its OEM customer base in the self-service industry.

All 80 Cryptera employs will be absorbed by Diebold family as part of the acquisition. Cryptera president and CEO Kaj Christiansenwill remain with the company along with his existing management team.

Commenting on the transaction, Diebold president and CEO Andy Mattes said, “Cryptera’s people, knowledge and market presence will allow Diebold to better leverage our combined technical capability and further advance the level of innovation for security in self-service settings across the globe.”

Both firms did not reveal the financial terms of the acquisition; however, they expect to close the deal early in the third quarter.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
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Enter your details here to receive your free Whitepaper.

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