Crane NXT to acquire De La Rue authentication business for GBP 300M

Crane NXT announced it has signed a definitive agreement with De La Rue to acquire its authentication business for 300M British pounds in cash, subject to customary adjustments. De La Rue Authentication Solutions is a global leader in security and authentication technologies. The acquisition expands Crane NXT’s portfolio to include security technologies for the identification documents and credentials market. De La Rue Authentication Solutions is a global provider of digital and physical security and authentication technologies to governments and brands, delivering more than 30-years of authentication solutions in nearly 80 countries. Their advanced security features include surface-relief micro-structures and holographic technologies. The acquisition is expected to close in the first half of 2025, subject to customary closing conditions. De La Rue Authentication generated approximately $130M in revenue in the fiscal year ended March 30, with an adjusted EBITDA margin of approximately 20%. Crane NXT expects the acquisition to be accretive to Adjusted EPS in the first full year and to achieve double digit ROIC by year five, driven by the growth outlook of De La Rue Authentication Solutions as well as transaction synergies.