We are advising Crane NXT on the acquisition

Davis Polk is advising Crane NXT, Co. on its acquisition of De La Rue’s authentication division, De La Rue Authentication Solutions, for £300 million in cash, subject to closing adjustments. The acquisition is expected to close during the first half of 2025, subject to implementation of a reorganization to effect a divisional separation required to deliver the authentication division to Crane NXT on closing and the satisfaction of customary closing conditions.

Crane NXT is a premier industrial technology company that provides trusted technology solutions to secure, detect and authenticate what matters most to its customers. Based in Waltham, Massachusetts, Crane NXT is a pioneer in advanced micro-optics technology for securing physical products, and its sophisticated electronic equipment and associated software leverages proprietary core capabilities with detection and sensing technologies.

De La Rue Authentication Solutions is a global leader in security and authentication technologies. The acquisition by Crane NXT complements the authentication and online brand protection solutions of OpSec and expands Crane NXT’s portfolio to include security technologies for the identification documents and credentials market.

Established 211 years ago, De La Rue is trusted by governments, central banks and international brands, providing digital and physical solutions that protect their supply chains and cash cycles from counterfeiting and illicit trade. De La Rue’s shares are traded on the London Stock Exchange.

The Davis Polk corporate team includes partner Will Pearce, counsel Joseph Scrace and associates Vittorio Arpellino and Gilbert Lim. Partner Dominic Foulkes is providing tax advice. Partner Frank J. Azzopardi and associate Ted Talas are providing intellectual property advice. Counsel Neil Sharpe is providing executive compensation advice. Partner Aaron Ferner is providing finance advice. Counsel Matthew Yeowart is providing antitrust and competition advice. Members of the Davis Polk team are based in the London and New York offices.  

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