Inspur Group, Diebold ink JV agreement

Inspur Group and Diebold (NYSE: DBD) have established new joint venture named Inspur Financial Technology Service Co., Ltd., the companies said.

In order to integrate resource advantages of research and development, production and sales, the two parties will provide Chinese clients with a host of financial self-service terminals and solutions.

Diebold will act as the exclusive overseas selling agency of the joint venture by making optimal use of its well-connected distribution channels across financial markets worldwide, to expand sales volume of myriad products. Inspur Group will hold at least 51 percent of the shares of the joint venture.

As per the agreement, this cooperation will mainly focus on the financial industry with a product line including cash, non-cash, and bill products.

Established in 1945, Inspur Group develops IT hardware and software, cloud computing, Big Data and a self-service terminal provider.

Diebold supplies self-service products. It has devoted itself to the Chinese market for nearly 30 years, catering to a large number of both domestic and international clients.