Diebold Expands Its Turkish Market By Acquiring Altus

Altus CEO Bulent Tellioglu will join Diebold as the company's country manager in Turkey

Diebold, Incorporated recently announced that it has acquired Altus, an industry-leading multivendor service provider in Turkey. Headquartered in Ankara, Altus was founded in 2008 to offer various hardware and software-related services to the financial industry and today is one of the leading companies in its field.

Altus provides information technology (IT) services to the financial sector through 32 service centers, covering approximately 80 cities in Turkey with a team of more than 150 professionals specializing in automated teller machine (ATM)-focused services.  Altus also provides services for computer-related peripherals, providing a wide breadth of expertise to support the Turkish market.

As part of its aggressive growth strategy in Turkey and the surrounding region, Diebold is combining its world-renowned competencies in financial self-service with a dynamic company to strengthen its position and effectively develop its business in this growing market.  According to a report issued by Retail Banking Research (RBR) earlier this year, the ATM installed base in Turkey grew by 4,700 units, or 17 percent, from 2010 to 2011, making this the fastest growing market on an absolute unit basis in the Western European region.

"Diebold is demonstrating its dedication to the Turkish market by extending the scope of its services in Turkey," said Dave Wetzel, Diebold vice president and managing director for Europe, the Middle East and Africa (EMEA). "Altus represents the top multivendor service provider in Turkey, owning a significant portfolio of contracts with both financial institutions and the government.  With its invaluable expertise and knowledgable associates, Altus will enrich the Diebold brand in Turkey and create value for our customers. By integrating the entire Altus team and its leadership into Diebold Turkey, we'll have a very strong team working together to achieve our goals."

Altus chief executive officer Bulent Tellioglu will join Diebold as the company's country manager in Turkey. "I am very proud to join Diebold and be part of an organization that will offer the Turkish market added value on many new levels," Tellioglu said. "By joining forces, Altus and Diebold's world-class capabilities will offer the market strategic service advantages. I look forward to working with a globally competitive and united Diebold Turkey team to challenge the current market standards and compete at the highest level."