Industrial technology firm Crane NXT, whose operating segments include leading payments firm Crane Payment Innovations (CPI), has signed a definitive agreement to acquire the authentication business of De La Rue plc for a consideration of £300 million (US$392 million).
De La Rue Authentication Solutions is a global leader in security and authentication technologies, with Crane NXT stating that the acquisition complements its existing authentication and online brand protection solutions and expands its portfolio to include security technologies for the identification documents and credentials market.
“The acquisition of De La Rue Authentication Solutions accelerates our strategy as a market leader in providing trusted technology solutions that secure, detect and authenticate our customers’ most valuable assets,” said Crane NXT President and CEO, Aaron W Saak.
“Protection from counterfeiting and illicit trade is a priority for governments and leading commercial product brands. This acquisition expands our technology capabilities and will drive profitable growth in new markets.”
Clive Whiley, Chairman of De La Rue, added, “We are delighted to reach agreement with a company with the stature of Crane NXT, with its complementary strengths, and are confident that the Authentication Division will continue to build on the considerable successes that it has achieved over the last ten years.”
According to information from Crane NXT, De La Rue Authentication Solutions is a leading global provider of digital and physical security and authentication technologies to governments and brands, delivering more than 30-years of industry-leading authentication solutions in nearly 80 countries.
Its advanced security features include surface-relief micro-structures and holographic technologies, while the company also offers advanced solutions that track and authenticate unique items across global supply chains, complementing Crane NXT’s growing authentication business.
Crane NXT said the acquisition is expected to close in the first half of 2025. De La Rue Authentication, it added, generated around US$130 million in revenue in the year ended 30 March 2024, with an Adjusted EBITDA margin of around 20%.
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