Diebold acquires Phoenix Interactive Design
Diebold, Incorporated has acquired Phoenix Interactive Design, Inc., a developer of software solutions for automated teller machines (ATMs) and a host of other financial self-service applications.
Headquartered in London, Ontario, Phoenix brings more than 25 years of banking industry experience by creating highly configurable, enterprise-wide software that automates and migrates financial services across channels — changing the way financial products are delivered to consumers through technology. Phoenix’s customers include some of the world’s most prominent financial institutions (FIs), including TD Canada Trust, National Australia Bank Group and Fifth Third Bank.
“Diebold’s acquisition of Phoenix is an important milestone in our drive to transform to a services-led, software enabled company,” said Andy W. Mattes, Diebold president and chief executive officer. “There are many synergies between our companies. We will integrate the talent of the Phoenix team and take advantage of our reach to expand the Phoenix solution in more global markets. Acquiring Phoenix is a key foundational move to accelerate our growth in the fast-growing managed services and branch automation spaces.”
The expertise and proven capabilities Phoenix provides will allow Diebold to offer a stronger, more compelling software solution that complements the company’s existing services and security expertise. Phoenix delivers a comprehensive offering with a consistent, user-friendly interface across the self-service channel and a FI’s entire banking ecosystem — regardless of the vendor hardware environment.
Alan Kerr, Diebold executive vice president, software, will lead the Phoenix operation, which will serve as the foundation of Diebold’s software business moving forward. Phoenix has approximately 200 employees, who will be retained as part of Diebold. Kyle MacDonald, chief executive officer of Phoenix, is retiring from the self-service industry and will remain active during the integration for a period of time to ensure a seamless transition.
“Phoenix enables Diebold to move further up the value chain, with broader architectural capabilities and expanded competencies in banking transformation,” Kerr said. “Coupling Phoenix with our global reach and resources, we expect Diebold to be a more integral partner in meeting FI demands for software functionality and ease of use, as well as ongoing demands in security and availability.”
Kyle MacDonald, chief executive officer, Phoenix Interactive Design, said, “I am confident that Diebold will bring tremendous growth opportunities for the Phoenix team, and will add impressive value to Phoenix’s clients.”