US financial self-service, security and services company Diebold Inc is eyeing a joint venture with Chinese cloud computing and data center company Inspur Group to bring financial ATMs and other self-service solutions in China.

Inspur Group specializes in IT hardware and software and manufactures self-service kiosks for major Chinese financial institutions.

Aside from hardware and software, the joint venture, Inspur Financial Information Systems Ltd, will offer a suite of services including installation, maintenance and professional and managed services related to ATMs and other automated transaction solutions.

Inspur will acquire a majority share of 51 percent in the joint venture and a minority stake in Diebold’s current China joint venture.

Products developed by the joint venture will be exclusively sold and distributed by Diebold outside China.

Diebold President and CEO Andy Mattes, commented, “Partnering with Inspur enhances our competitive position and deepens the relationship with our customers in China. We look forward to reigniting growth in China and are excited to work with Inspur to sell a complete suite of self-service products and related services.”

Inspur Group President and CEO Sun Pishu, said, “”Combining both companies’ technology, sales expertise and existing presence in China will be of great value, both to our clients and our respective businesses,” said The joint venture agreement will likely be finished in mid-2016, pending regulatory and other approvals.”

Once the deal is completed, Diebold will appoint a chairman of the new joint venture, and Inspur will appoint a CEO to lead daily operations.