Open Sesami – A New Force in Cash Management Technology

Canadian security services provider GardaWorld, the world’s largest privately owned provider of security, cash and risk management service, has announced the launch of Sesami, a new cash ecosystem performance and technology company that will operate independently of its parent.

Garda has also announced Sesami’s acquisition of Dallas-based Tidel, a leading North American provider of smart safes, cash recyclers and note and coin dispensers, and a definitive agreement for the acquisition of Sweden-based Gunnebo Group’s cash management business, comprising automated cash processing solutions, software, and related services, for a combined consideration of approximately C$900 million.

Tidel and Gunnebo cash management will between them bring a team of over 300 software, cash automation and product specialists and a comprehensive portfolio of cash automation solutions, including smart safes and cash recyclers, all of which optimise the full cash ecosystem of financial institutions and retailers.

According to GardaWorld, the integration of these two best-in-breed cash management and cash automation service providers will enable Sesami’s platform to be powered by cutting-edge software and an unrivalled portfolio of intelligent devices with the capability to serve clients globally.

Stephane Gonthier, CEO of GardaWorld’s cash services business since 2016, will head Sesami. Darren Taylor, CEO of Tidel, will lead Sesami’s intelligent devices business and Christian Weisser, President of Gunnebo Cash Management, its managed services business.

Stephan Crétier, Founder, Chairman, President and Chief Executive Officer of GardaWorld said: ‘the cash services industry is rapidly evolving and Sesami is poised to revolutionise it with a new, unique and tech-enabled service delivery model, which is open, integrated, comprehensive and customisable. 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’.

In its announcement, GardaWorld commented that, as the cash industry evolves, there is a growing need to engage in a global revolution to integrate and completely digitalise operations, and Sesami was created to address this market opportunity head-on. As an agile, one-stop-shop for consumer businesses and financial institutions looking to optimise and outsource their cash management activities, Sesami will offer ‘a trustworthy, integrated solution to customers for cash ecosystem management.’ In addition to providing real-time connection to its customers’ cash ecosystems, Sesami will integrate the full spectrum of cash management products and services. These include advisory, business intelligence and analytics; a customisable software suite for tracking, forecasting and data aggregation; managed product maintenance, cash-in-transit and processing services delivered by third-party cash operators wherever its clients operate; and a wide range of intelligent cash automation and security device options.

GardaWorld had sales of C$3.7 billion in 2020. It has 120,000 employees and operates in 35 countries.