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Diebold Acquires TFE Technology Holdings
CANTON, Ohio -- Diebold Inc. has acquired TFE Technology Holdings LLC, a third-party maintenance provider of network and hardware service products and services to federal and state government agencies and commercial firms. "This strategic acquisition allows us to broaden our product and services offerings," said Bartholomew J. Frazzitta, vice president of Diebold's Security Division. "The addition of TFE will enhance Diebold's proven hardware and software capabilities by providing a total security solution that integrates everything from IT equipment and networking capabilities to support services," he said.Headquartered in Bountiful, Utah, TFE Technology is one of the 10 largest third-party maintenance providers of its kind. TFE employs 250 and has operations in all 50 states, plus Puerto Rico and Guam. In 2003, the company generated revenue of $34 million."There are a number of synergies between the two companies, like specialization, our complementary security offerings and a mutual customer base within the government and commercial markets," says Richard Baggot, vice president of Diebold.John Walker, TFE president, chief executive officer, will join Diebold and continue to be responsible for the day-to-day operations of TFE.Diebold Inc. is a global provider of integrated security, services and self-service delivery systems. The company employs more than 13,000.Visit Diebold Inc.: www.diebold.com"