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[Transcript]

Firstly, if you look at great partnerships there's always three or four attributes that contribute to really powerful partnerships. First is there's a very clear broad unaddressed need in the market. Second, the two companies involved in the partnership bring very complementary assets, whether it's people or their products and there's virtually no conflict. Third is the two companies have a shared vision for success and what the outcome of the partnership should be. And last, and maybe most importantly, there's a foundation of trust and common values.

So there's a really strong cultural fit between the two companies and when you look at the partnership between Diebold Nixdorf and Kony. I think it's a screaming "Yes, Big Happy Face, Check Plus" on all four of those, which is why I'm very excited about the partnership.

If you think about the world today, consumers, employees, partners, citizens, I mean everybody's hungry for advancements and ways to leverage digital to make their lives easier, more fun, more productive, more more efficient. And I think that holds across all industries. You can see that every day in areas like healthcare and travel and transportation, but I think it's particularly true in the areas of banking and commerce where there's a very high level of interdependence. So we think the next big wave in digital now is how do you take the capabilities that each of those verticals have already developed in digital, and now seamlessly leverage those across those different verticals to deliver an even richer, better digital experience. That's really what the vision of connected commerce is for Diebold Nixdorf, and we think this is a very big opportunity for both companies.

Let me talk a little bit about what what Diebold Nixdorf brings to this partnership, and what Kony brings, and I think that's part of what's so exciting about all this. So if you look at Diebold Nixdorf from what do they bring, well first, they bring deep domain expertise in banking and in retail. They have relationships with, you know, over 10,000 enterprises around the world. They're very much a global company, and their respective brands, so all really powerful complementary assets. Kony on the other hand brings market-leading acknowledged solutions and applications, specifically in banking, and we bring the industry's most robust platform that will then help us together go build new solutions in enabling this connected commerce vision across not just banking, but across commerce retail and point-of-sale.

So a great example of two companies that have really important, completely complementary strengths coming together. So it turns out that a big chunk of the leadership team and executives at Kony have a relatively long history and relationships with the senior executives at Diebold Nixdorf, some of which date nearly 20 years. So we entered into this partnership conversation with a foundation in a history of trust.

We've been working on this for almost six months and there have been hundreds of meetings and intersections of people in almost every function, and our two companies at multiple levels are exploring how we're going to go make this so powerful for customers in the marketplace. I have every confidence, you know, given the progress so far that as every week and month clicks by and the two organizations work more together that's just going to continue to grow.

Right now today, I mean if you are a bank or you're retailer looking for ways to drive connected commerce, we're open for business. We're anxious to talk and the best part is we have solutions today that we will bring together in the marketplace. So we've already been delivering market leading solutions for, as an example for retail mobile banking. We will now take those solutions to market arm-in-arm with people and then we're also going to begin working immediately on new solutions in both the banking vertical and extensions to that retail capability but also on solutions that that involve payment processors, retailers, point-of-sale to further enable that vision.

So we have solutions today ready to go, and we're going to start working immediately on the next generation of digital solutions that will empower and deliver this vision of connected commerce.

There's one last comment I'd like to share, which I think is really important that we didn't get a chance to cover, and that is as part of this partnership, Diebold Nixdorf will be taking a minority equity stake in Kony. And in addition to the equity stake, one of their top executives will be assuming a seat on our board of directors. You see a lot of partnerships in the technology industry over the years, and candidly the majority of them are a lot of arm waving and press releases and don't have a lot of teeth and commitment behind the partnership. And I think the equity stake the Diebold Nixdorf has put into Kony, and the fact that one of their senior execs will sit on our board and help shape and influence strategy going forward to ensure full alignment and execution to deliver on the promise of connected commerce, is very unique. And I think sends a very powerful signal to the marketplace and to our prospects and customers.

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