Crane NXT (CXT) said Thursday it has completed its acquisition of De La Rue Authentication Solutions, a provider of security and authentication technologies.
The company said the deal adds capabilities in government-issued IDs and credentials to its portfolio and complements its existing business, OpSec Security.
As part of the acquisition, Crane NXT is launching a new business unit called Crane Authentication, combining OpSec and De La Rue's operations under its Security and Authentication Technologies segment, the company said.
The company added that it expects the deal to boost adjusted earnings per share in its first full year and deliver a double-digit return on invested capital by year five. Crane NXT will share updated full-year financial projections with its Q1 results on May 7.
The financial details of the transaction were not given.
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