MONTREAL -- Montreal-based GardaWorld has signed a 12-year agreement to manage Bank of America's cash processing and cheque imaging services in 32 locations across the United States.
About 1,000 of the bank's employees will join GardaWorld Cash Services when the transaction is completed in the first quarter of 2014.
GardaWorld says it will acquire Bank of America's money rooms and related facilities in what it describes as a $1.4-billion strategic investment.
The company provides a variety of security and cash-handling services across Canada and the United States for the financial services sector.
After the deal, GardaWorld will operate 280 secure cash processing centres across the United States.
