GardaWorld on Thursday announced the launch of new cash ecosystem solution integrator dubbed, “Sesami Cash Management Technology,” which will operate as an independent entity of the company and be led by Stéphane Gonthier, who joined GardaWorld in 2016 as CEO of its cash services business.
In conjunction with the launch of Sesami, GardaWorld announced that it has acquired Tidel, a North American provider of cash automation solutions, and also entered into an agreement to purchase Sweden-based Gunnebo Group’s cash management business, which is comprised of automated cash processing solutions, software and related services, for a combined consideration of approximately CAD $900 million ($710 million).
Both Tidel and Gunnebo cash management will be joining Sesami, bringing with them a team of over 300 software, cash automation and product specialists and a portfolio of cash automation solutions, including smart safes and cash recyclers all of which optimize the full cash ecosystem of financial institutions and consumer businesses.
Darren Taylor, CEO of Tidel, will lead Sesami’s intelligent devices business and Christian Weisser, President of Gunnebo Cash Management, will lead Sesami’s managed services business.
“Tidel is proud and excited to play a foundational role in the creation of Sesami, which will be uniquely positioned to provide clients with access to a full suite of highly innovative cash ecosystem management services,” said Taylor. “As Tidel embarks on this new chapter, we are committed to ensuring continuity for our clients by providing the same level of service and excellence for which we are best known. We will also continue to work closely with our existing cash industry partners, in line with Sesami’s partnership approach to managed services.”
“We are thrilled to join forces with other best-in-breed cash management providers and to have Gunnebo Cash Management’s suite of highly-powerful technology solutions be at the core of a new player on the scene set to transform the industry. We look forward to bringing our unique expertise, solutions and global reach to Sesami’s clients while continuing to serve existing clients,” added Weisser.
A One-Stop Shop for Cash Management
According to a statement, Sesami was created to be an agile, one-stop-shop for consumer businesses and financial institutions looking to optimize and outsource their cash management activities by offering an integrated solution for cash ecosystem management.
In addition to providing real-time connection to its customers’ cash ecosystems, Sesami integrates the full spectrum of cash management products and services. These include advisory, business intelligence and analytics; a comprehensive and customizable software suite for tracking, forecasting and data aggregation; managed product maintenance, cash-in-transit and processing services; and a vast array of intelligent cash automation and security device options.
“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. Only Sesami can offer clients a holistic view of the performance and management of the entire cash ecosystems, and this is a game changer for both clients, and the industry,” said Stephan Crétier, Founder, Chairman, President and Chief Executive Officer of GardaWorld.
“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, who will now serve as CEO of Sesami. “We are extremely pleased to begin this journey with Tidel and Gunnebo’s cash management business, two industry leaders and trusted partners in the market. Together, they form the foundation of Sesami’s cash optimization platform, which will be powered by the best performing software on the market and able to offer advanced cash management solutions globally.”
