News in Brief

Crane NXT Acquires TruTag Assets

Continuing on its acquisition trail to penetrate the brand protection market, Crane NXT has now bought the smart packaging assets of TruTag Technologies, which will be incorporated into its OpSec business.

TruTag provides secure digitisation of physical products through proprietary secure marking and smartphone authentication. Terms of the acquisition were not disclosed, and the transaction will not have a material impact on Crane NXT in 2024.

This acquisition marks Crane NXT’s third purchase this year, following the acquisitions of OpSec Security ($270 million) and the De La Rue Authentication Division (£300 million), both leading providers of government revenue and brand protection solutions.

According to Crane NXT, this strategic move strengthens its position in the growing c. $3 billion authentication technologies market as it diversifies its portfolio and enhances its expertise in product security and authentication technologies.

Aaron W Saak, Crane NXT’s President and CEO, said, ‘TruTag’s Smart Packaging technology will also expand our capability for direct-to-product marking in consumer and industrial applications, further driving profitable growth.’