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United Tech Bids $2.6B for Diebold
zhang1983 writes "United Technologies, parent company of jet engine-maker Pratt & Whitney, Otis elevator and Sikorsky Aircraft, said it made the unsolicited offer to Diebold for $2.63 billion on Friday after trying to negotiate a deal for two years.
United Technologies said the company announced the offer Sunday night because executives believe their offer is "so compelling we thought shareholders should know about it.""
2-3 Billion$ ATM business... 100 Million$ Election system business... Why do people think Diebold is primarily election systems-based?
According to Wikipedia (http://en.wikipedia.org/wiki/United_Technologies); United Tech (Sikorsky's parent) is based in Hartford, CT
"I think an etch-a-sketch with an ethernet port would beat IE7 in web standards compliance."
That is entirely correct. Diebold is one of the key players in the ATM business, as well as being a major provider of banking security equipment. To clarify (since this is slashdot) banking security here refers to safes, cameras, locks, and bulletproof teller windows, not encrypted data on the server or anything. They've also made a significant effort to streamline banking processes in recent times; they've got a fair amount of technology relating to scanning and transmitting financial documents, so as to preclude the need to send the physical document itself.
Elections, despite the notoriety it has caused, is more or less a 'side' business for Diebold, which was probably the result of someone high-up watching the Gore VS Bush Florida recount debacle and saying to himself, "Now THAT [election devices] looks like a growth market right there..." As far as I know, the 'Diebold Election Systems' branch was simply bought and bolted on to the company.