Diebold, Incorporated today announced it has finalized its previously announced joint venture agreement with the Inspur Group. This agreement allows the newly combined Diebold Nixdorf to better provide a complete range of self-service solutions within the China market, including automated teller machines (ATMs), non-cash terminals and kiosks, in accordance with Chinese regulations. Also, Diebold Nixdorf will serve as the exclusive distributor outside of China for all products developed by the new joint venture, which will be sold under the Diebold Nixdorf brand.

Following closing of the transaction, Diebold Nixdorf will hold a 40 percent minority interest in the joint venture, initially announced by Diebold, Incorporated on Dec. 18, 2015.