Press release

CMA finds competition concerns with cashpoint merger

The CMA has provisionally found that Diebold’s acquisition of Wincor may reduce competition in the supply of customer-operated cashpoints in the UK.


Diebold Incorporated (Diebold) is a US company and provider of financial self-service (FSS) products including automatic teller machines (ATMs - also referred to as cashpoints). Wincor Nixdorf (Wincor) is a German company which also provides FSS products including ATMs. Diebold acquired Wincor on 16 August 2016 with the new company renamed Diebold Nixdorf, Incorporated.

A group of independent panel members at the Competition and Markets Authority (CMA) has provisionally found that the merger risks a substantial lessening of competition (SLC) in the market for the supply of customer-operated ATMs in the UK.

The CMA is concerned that the market for customer-operated ATMs is highly concentrated, with only 3 significant suppliers: NCR, Wincor and Diebold. Evidence provided to the inquiry suggests that, outside of NCR, there is a weak competitive constraint on the merged companies. The group also found that any expansion of suppliers on the periphery of the market would be unlikely to occur within a time frame or on a sufficient scale to prevent the loss of competitive constraint arising from the merger. As a result, the merger may be expected to result in higher prices and/or a loss of quality.

The CMA is today also issuing a notice of possible remedies which outlines measures the CMA could take if it still believes the merger may be expected to lead to an SLC when it makes its final decision.

Martin Cave, Inquiry Chair, said:

We looked carefully at the market forces influencing the supply of ATMs in the UK. That NCR is the only other substantial UK supplier of ATMs was a significant factor that underpinned the CMA’s investigation.

It is important to protect against the risk of weakened competition in the supply of cashpoints which could lead to reduced quality and increased prices.

The group is now inviting responses to its provisional findings and remedies notice, and will continue to assess all the evidence before it makes its final decision.

All information relating to this merger investigation can be found on the case page. Anyone wishing to respond to the notice of possible remedies should do so by no later than 10 January 2017.

Anyone wishing to respond to the provisional findings should do so in writing, by no later than 10 January 2017.

Please email or write to:

Project Manager
Diebold/Wincor merger inquiry
Competition and Markets Authority
Victoria House
Southampton Row

Notes for Editors

  1. The CMA is the UK’s primary competition and consumer authority. It is an independent non-ministerial government department with responsibility for carrying out investigations into mergers, markets and the regulated industries and enforcing competition and consumer law.
  2. The summary of provisional findings can be found on the case page. The full report will be published shortly.
  3. ATMs are machines that dispense cash and may also offer facilities such as cash/cheque deposit, transaction enquiries and statements etc.
  4. The CMA referred the case for in-depth investigation on 30 August 2016.
  5. The members of the inquiry group are: Martin Cave (Inquiry Chair), Bob Spedding, Roger Finbow and Sarah Chambers.
  6. All the CMA’s functions in phase 2 merger inquiries are performed by independent inquiry groups chosen from the CMA’s panel members. The appointed inquiry group are the decision-makers on phase 2 inquiries.
  7. The CMA’s panel members come from a variety of backgrounds, including economics, law, accountancy and/or business; the membership of an inquiry group usually reflects a mix of expertise and experience.
  8. For more information on the CMA see our homepage or follow us on Twitter @CMAgovuk, Flickr, LinkedIn, and like our Facebook page. Sign up to our email alerts to receive updates on mergers cases.
  9. Media enquiries should be directed to Neil Kernohan (, 020 3738 6170).
Published 20 December 2016