LONDON, Ont.—Phoenix Interactive Design, Inc., a London, Ont.-based developer of software solutions for automated teller machines (ATM), has been bought by banking and security technology company Diebold, Inc.
Financial terms of the acquisition were not disclosed.
Phoenix develops highly configurable, enterprise-wide software that automates and migrates financial services. Its 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. “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.”
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 about 200 employees, who will be retained as part of Diebold. Kyle MacDonald, chief executive officer of Phoenix, is retiring but will help facilitate the integration before officially stepping down.
Based in London, Ont., Phoenix Interactive provides Windows-based multi-vendor ATM software.