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SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported). June 27, 1997
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DIEBOLD, INCORPORATED
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(Exact name of registrant as specified in its charter)
Ohio 1-4879 34-0183970
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(State or other (Commission File (IRS Employer Identification No.)
jurisdiction of Number)
incorporation)
5995 Mayfair Road, P.O.Box 3077, North Canton, Ohio 44720-8077
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (330) 489-4000
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N/A
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(Former name or former address, if changed since last report)
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Item 5: OTHER EVENTS.
On June 27, 1997, InterBold, a seven-year old joint venture between
Diebold, Incorporated and International Business Machines Corp. ("IBM") to
design and develop automated teller machines (ATMs), announced that it would
discontinue its international marketing and distribution agreement with IBM.
On July 2, 1997, Diebold, Incorporated announced that IBM advised that
it exercised an option to sell its 30 percent minority ownership in InterBold
to Diebold.
Item 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
99.1 Press Release of InterBold dated June 27, 1997.
99.2 Press Release of Diebold, Incorporated dated July 2, 1997.
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DIEBOLD, INCORPORATED
By: /s/ ROBERT W. MAHONEY
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Robert W. Mahoney
July 2, 1997 Chairman of the Board and CEO
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EXHIBIT INDEX
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EXHIBIT NO. EXHIBIT DESCRIPTION
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99.1 Press Release of InterBold dated June 27, 1997
99.2 Press Release of Diebold, Incorporated dated July 2, 1997
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE: INTERBOLD DISSOLVES INTERNATIONAL
June 27, 1997 DISTRIBUTION AGREEMENT WITH IBM
NORTH CANTON, Ohio -- InterBold, a
seven-year-old joint venture between Diebold,
FOR MORE INFORMATION: Incorporated (NYSE:DBD) and International
John Kristoff Business Machines Corp. (NYSE:IBM) to develop
+1 330 490 3782 and market automated teller machines (ATMs),
[email protected] announced today that it will discontinue its
international marketing and distribution
agreement with IBM. Under the original terms
of the agreement, IBM had exclusive
distribution rights to InterBold products in
many regions outside the United States, with
Diebold marketing InterBold products in the
United States and managing distribution in
other select international markets. Diebold
is the exclusive manufacturer of InterBold
ATMs.
"The original purpose of the InterBold
joint venture was to match Diebold's
outstanding self-service technology with
IBM's global distribution system," said Gregg
A. Searle, chairman of InterBold's Governing
Committee and president and chief operating
officer of Diebold, which owns 70 percent of
the joint venture. "However, in the years
since, Diebold has emerged as an
international leader in providing
self-service solutions and has developed a
critical mass in international sales and
distribution capabilities. We believe Diebold
is now positioned to leverage the InterBold
ATM product line by marketing directly to
customers worldwide."
(more)
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PAGE TWO/INTERBOLD DISSOLVES INTERNATIONAL
DISTRIBUTION AGREEMENT WITH IBM
Customers should not be impacted, as terms of the joint venture agreement
provide for an 18-month transitional period for changes in distribution and
marketing responsibilities.
"It is Diebold's desire to pursue improved operating profits and growth
opportunities by streamlining our distribution channels," Searle said. "The
international strategic initiatives Diebold has made, independent of the joint
venture, provide the company with a solid foundation of global resources from
which to grow worldwide sales, service and support."
In the time since the joint venture was initiated, Diebold has greatly
expanded its own sales and marketing resources in Europe, Asia, the Pacific Rim
and Central and South America. Diebold has created joint ventures in China,
India and Venezuela; acquired subsidiaries in Canada, Australia and Mexico;
expanded operational centers in Singapore and the United Kingdom; and set up
distributorships in areas such as the Middle East and South America.
Diebold has more than doubled its overall corporate revenues since 1991,
surpassing US$1 billion in sales last year.
"Clearly, Diebold is well positioned to be a strong player in the global
marketplace," said Searle, "We are committed to providing the highest level of
service and support to our customers and expanding our existing network of
resources."
# # #
PR/2395
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EXHIBIT 99.2
FOR IMMEDIATE RELEASE: DIEBOLD ENTERS DISCUSSIONS TO
July 2, 1997 PURCHASE IBM'S SHARE OF INTERBOLD
NORTH CANTON, Ohio --International
Business Machines Corp. (NYSE:IBM) today
advised Diebold, Incorporated (NYSE:DBD) that
FOR MORE INFORMATION: it will exercise an option to sell its 30
John Kristoff percent minority ownership in InterBold to
+1 330 490 3782 Diebold. InterBold is the seven-year-old
[email protected] joint venture between Diebold and IBM to
design and develop automated teller machines
(ATMs). Diebold and IBM have begun
discussions to assess the value of the
minority stake.
InterBold announced last week that it
has discontinued its international marketing
and distribution agreement with IBM. Gregg A.
Searle, chairman of InterBold's governing
committee, said that Diebold is now
positioned to be a strong player in the
global marketplace, having greatly expanded
its sales and marketing resources in Europe,
Asia, the Pacific Rim and Central and South
America in recent years.
Diebold has created joint ventures in
China, India and Venezuela; acquired
subsidiaries in Canada, Australia and Mexico;
expanded operational centers in Singapore and
the United Kingdom; and set up
distributorships in areas such as the Middle
East and South America.
Diebold, Incorporated, headquartered in
Canton, Ohio, is a global leader in providing
card-based transaction systems, security and
service solutions to the financial, education
and healthcare industries. Founded in 1859,
the company develops, manufactures, sells and
services automated teller machines, campus
systems, smart card systems, electronic and
physical security equipment, automated
medication dispensing systems, software and
integrated systems solutions.
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PR/2396
