Canton, Ohio-based Diebold Inc, the company in which IBM Corp parked its automatic teller machine business, is to acquire Griffin Technology Inc, Farmington, New York for $7.75 per share cash, valuing the company at $19m. Major Griffin shareholders representing about 32% of the total have agreed to tender their shares to Diebold. The company, which had fiscal 1995 sales of $17.9m, makes computerised campus-wide card-based management systems for student meal plans, security, photo imaging and vending at universities and colleges in the US.
DIEBOLD PURSUES STUDENT WORLD WITH $19m GRIFFIN BID
