Unless you like standing in line at the bank, chances are when you need cash, you are going to visit an ATM. And with almost half a million ATMs in the United States—at banks, and bars, and convenience stores—you probably won’t have to look too far. While that ubiquity makes ATMs convenient, it also presents a challenge for firms like Diebold Nixdorf.
Roughly a third of the world’s 3.3 million ATMs were made by Diebold, according to estimates by the banking research firm RBR. Yet, despite Diebold’s dominance in the industry, the firm has been struggling in recent months.