Canada-based GardaWorld, one of the largest security companies in the world, announced on Tuesday the creation of Sesami Cash Management Technologies, a cash ecosystem performance and technology company, according to a news release.
Sesami will operate as an independent entity of GardaWorld, and its U.S. headquarters will be based in Dallas. Stéphane Gonthier, who joined GardaWorld in 2016 as CEO of its cash services business, will be its CEO.
Sesami acquired Dallas-based Tidel and Sweden-based Gunnebo Group’s cash management business as part of the launch, creating a company with over $1.02 billion in revenue. Tidel is a North American provider of cash automation solutions.
Sesami will be a business intelligence platform offering customizable services, including software, intelligent devices and managed services for end-to-end cash ecosystems and cash automation operations. Tidel’s CEO, Darren Taylor, will lead Sesami’s intelligent devices business, and Christian Weisser, president of Gunnebo Cash Management, will lead Sesami’s managed services business.
“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,” Gonthier said in the release. “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.”
The integration of Tidel and Gunnebo cash management will bring together a team of over 300 software, cash automation and product specialists.
“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,” Taylor said in the release.
According to the release, as the cash industry evolves, there is a growing need to integrate and completely digitalize operations. Sesami was created to address this market opportunity head-on.
