Diebold has moved to expand its security business by purchasing a Brazilian company that specialized in Internet banking security.
Diebold has made a move to expand its security business by purchasing GAS Tecnologia based in Brazil.
GAS specializes in security for Internet banking, online payment and mobile banking. Based in Brasilia, the country’s capital, GAS protects nearly 70 percent of the Internet banking transactions conducted in Brazil, Diebold said.
Terms of the deal were not being immediately disclosed, Diebold said.
GAS specializes in providing Internet and mobile banking security aimed at preventing various types of fraud. The company also offers a security information database service provides current information on threats to online banking.
The company tries to identify and prevent possible attacks in Internet banking systems, said Hilton Silva, GAS executive director. Joining Diebold is an “opportunity to leverage local technology to further expand our security offerings,” Silva said.
Diebold looks forward to continued growth in Brazil, said Thomas W. Swidarski, president and chief executive officer.
“During the past several years, we have experienced great success in this region, and we are confident that GAS will be a meaningful addition to Diebold as we expand our security expertise and industry knowledge in Brazil,” Swidarski said. Diebold intends to offer GAS technology to the Latin America and international markets, he said.
Diebold’s operations in Brazil are based in Sao Paulo. The company serves banks, as well as industrial, commerce, government and health care customers. Diebold has 3,200 employees in Brazil.