Diebold Inc. has sold its money-losing U.S. election-systems business, just seven years after acquiring it amid hopes of rising demand for voting technology upgrades in the wake of the 2000 presidential election fiasco. Diebold [said] it sold the voting-machine unit to privately held Election Systems & Software Inc. for $5 million, about one-fifth of what it paid in 2002. There were assumptions we made in that space that didn't materialize," Diebold spokesman Mike Jacobsen said. Diebold, which was the industry's biggest maker of electronic voting machines heading into the 2004 presidential election, was in the spotlight as concerns increased about the reliability and security of the electronic systems. Diebold also suffered from a perception problem when the company's then-Chief Executive Walden O'Dell very publicly supported and fundraised for President George W. Bush in his re-election campaign.
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