Octavio Marquez on merger
From Diebold Nixdorf CEO: Banking On Tech | Mad Money | CNBC · · CNBC
“We just did the biggest transformational deal in the hundred and fifty seventy year history of our company; we've acquired a company pretty much the same size as ours, increasing our total addressable market by 50%.”
On , Octavio Marquez, President, Chief Executive Officer & Director at DIEBOLD NIXDORF INC, spoke about merger during Diebold Nixdorf CEO: Banking On Tech | Mad Money | CNBC on CNBC.
About Octavio Marquez
In a September 2017 interview on CNBC's *Mad Money*, Octavio Marquez discussed the state of Diebold Nixdorf following its acquisition of Wincor Nixdorf, which he described as "the biggest transformational deal" in the company's history. Marquez stated that the company's first priority was paying down debt, noting that leverage had moved from nearly four times to closer to three times after paying down $200 million. He identified four industry drivers—digitalization, individualization, automation, and miniaturization—and said the company plays on all of them. Marquez also addressed competition in retail technology, acknowledging Amazon as "the 800-pound gorilla" but asserting that Diebold Nixdorf is "right there with them," showcasing technology for phone-based checkout and optimized shopping lists. He described the company's role in "the store of the future" as managing everything with a plug, including electronic self-checkout and customer recognition. On labor trends, Marquez said the goal is to transition employees from repetitive tasks to consulting and advisory roles. He also noted that Diebold Nixdorf is the market leader in the Americas and most European countries, and that the company is re-entering the Chinese market through local joint ventures.