Banco do Brasil SA, Brazil's largest banking company, has signed a major purchase agreement Diebold Inc.

The North Canton, Ohio, automated teller machine maker said Tuesday that the bank is buying about 3,500 cash-dispensing ATMs and 1,900 checkbook printing terminals as part of an effort to expand into new areas throughout Brazil. It plans to install the machines at branches and "new retail locations."

Banco do Brasil operates 40,000 ATMs in Brazil. It is replacing those that are at least a decade old to improve security.

The new ATMs' features include an encrypted PIN pad, anti-skimming technology, and a mechanism that freezes the safe's lock if it is tampered with.

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