Today is a very exciting day at GardaWorld. This morning, we announced that we have signed a binding agreement for the acquisition of G4S Cash Solutions (Canada), for an aggregate consideration of C$110 million. We expect that the deal will be finalized by the end of the year, however, due to competition restrictions we are prohibited from discussing future plans in terms of the transition or how the business will operate. In the interim, we will operate business as usual - focused on our customers, our employees and on delivering excellent service. We will be working with G4S to ensure customers and employees experience a smooth transition once necessary approvals have been obtained.
Our Founding President and CEO, Stephan Crétier shared a statement regarding the transaction, expressing his excitement. "We are thrilled at the prospect of welcoming the Canadian G4S Cash Solutions team. Our Cash Services platform successfully established in Quebec and across the United States will now offer a fully integrated North American continental cross-border service delivery solution to all our clients. We look forward to working with G4S employees and having them as part of our performance-driven team. We expect a seamless transition as both our organizations share the commitment to a customer centric-culture and best-in-class service delivery."
We are delighted to share our news with you here on Garda Cares and will keep you posted as the transaction progresses.