Diebold is one of the world’s largest ATM machine-makers, and it’s about to get even bigger. CEO Andy Mattes tells Fortune’s Susie Gharib that Diebold will soon double its revenues when it closes a deal to buy its ATM competitor, Germany’s Wincor Nixdorf. The $2 billion deal could even catapult the 156-year old American manufacturer onto the Fortune 500.
Buy why expand the ATM business at a time when people are using debit cards, credit cards, and services like Apple Pay and Google Wallet? Mattes makes the case that today’s ATMs “are not the cash and dash” machines that we’re used to seeing. Mattes says they are sophisticated, high-tech machines that “can do 90% of what a human teller can perform,” and “can connect the physical world of cash with the digital world of cash.”