GardaWorld acquires cash solutions, creates new company

Sesami Logo (CNW Group/GardaWorld Security Corporation)

GardaWorld recently announced the creation of Sesami Cash Management Technologies, which will operate as an separate entity and be led by Stéphane Gonthier, who joined GardaWorld in 2016 as CEO of its cash services business.

The company simultaneously announced Sesami’s acquisition of Tidel, a Dallas-based provider of cash automation solutions, and an agreement to acquire Sweden-based Gunnebo Group’s cash management business, for a combined consideration of approximately $900M.

“The cash services industry is rapidly evolving and Sesami is poised to revolutionize it with a new, unique and tech-enabled service delivery model which is open, integrated, comprehensive and customizable,” said Stephan Crétier, founder, chairman, president and CEO of GardaWorld, in a statement.

“Sesami’s open architecture approach will both simplify and optimize the outsourcing of end-to-end cash ecosystem management through a single-partner platform, committed to only bringing in the best-in-breed,” added Gonthier.

The combination of Tidel and Gunnebo Cash Management will bring a team of more than 300 employees to Sesami. Cash management products and services will include advisory and analytics; customizable software; forecasting and data aggregation; intelligent cash automation and security device options; and cash-in-transit and processing services delivered by third-party cash operators.