Crane NXT Acquires Smart Packaging Assets of TruTag Technologies, Further Expanding Capabilities in Product Security and Authentication Technologies
Crane NXT (NYSE: CXT) has acquired the Smart Packaging assets of TruTag Technologies, enhancing its product security and authentication capabilities. The technology enables secure digitization of physical products through proprietary marking and smartphone authentication, allowing for direct-to-product marking in consumer and industrial applications. The acquired technology will be integrated into Crane NXT's OpSec business, enabling brand owners to verify product integrity through smartphone-based authentication using machine learning. The transaction terms were not disclosed and will not materially impact Crane NXT in 2024.
Crane NXT (NYSE: CXT) ha acquisito gli asset di Smart Packaging di TruTag Technologies, potenziando le proprie capacità di sicurezza e autenticazione dei prodotti. La tecnologia consente la digitalizzazione sicura dei prodotti fisici tramite marcatura proprietaria e autenticazione tramite smartphone, permettendo una marcatura diretta sui prodotti in applicazioni consumer e industriali. La tecnologia acquisita sarà integrata nel business OpSec di Crane NXT, consentendo ai proprietari dei marchi di verificare l'integrità del prodotto attraverso l'autenticazione basata su smartphone utilizzando l'apprendimento automatico. I termini della transazione non sono stati divulgati e non influenzeranno materialmente Crane NXT nel 2024.
Crane NXT (NYSE: CXT) ha adquirido los activos de Smart Packaging de TruTag Technologies, mejorando sus capacidades de seguridad y autenticación de productos. La tecnología permite la digitalización segura de productos físicos a través de marcaje propietario y autenticación mediante smartphone, permitiendo un marcaje directo en los productos en aplicaciones tanto para consumidores como industriales. La tecnología adquirida se integrará en el negocio OpSec de Crane NXT, permitiendo a los propietarios de marcas verificar la integridad del producto a través de la autenticación basada en smartphone utilizando aprendizaje automático. No se revelaron los términos de la transacción y no afectarán materialmente a Crane NXT en 2024.
Crane NXT(NYSE: CXT)는 TruTag Technologies의 스마트 패키징 자산을 인수하여 제품 보안 및 인증 기능을 강화했습니다. 이 기술은 물리적 제품의 안전한 디지털화를 독점적인 마킹 및 스마트폰 인증을 통해 가능하게 하며, 소비자 및 산업 응용 분야에서 제품에 직접 마킹을 허용합니다. 인수된 기술은 Crane NXT의 OpSec 사업에 통합되어 브랜드 소유자가 머신 러닝을 활용하여 스마트폰 기반 인증을 통해 제품 무결성을 확인할 수 있도록 합니다. 거래 조건은 공개되지 않았으며 2024년 Crane NXT에 실질적인 영향을 미치지 않을 것입니다.
Crane NXT (NYSE: CXT) a acquis les actifs de Smart Packaging de TruTag Technologies, renforçant ainsi ses capacités de sécurité et d'authentification des produits. La technologie permet la numérisation sécurisée des produits physiques grâce à un marquage propriétaire et une authentification par smartphone, permettant ainsi un marquage direct sur les produits dans des applications pour les consommateurs et l'industrie. La technologie acquise sera intégrée dans l'entreprise OpSec de Crane NXT, permettant aux propriétaires de marques de vérifier l'intégrité des produits via une authentification sur smartphone utilisant l'apprentissage automatique. Les conditions de la transaction n'ont pas été divulguées et n'auront pas d'impact matériel sur Crane NXT en 2024.
Crane NXT (NYSE: CXT) hat die Smart Packaging Vermögenswerte von TruTag Technologies erworben und damit seine Produkt-Sicherheits- und Authentifizierungsmöglichkeiten verbessert. Die Technologie ermöglicht die sichere Digitalisierung physischer Produkte durch proprietäres Markieren und Authentifizierung über Smartphones, was direktes Markieren auf Produkten in Verbraucher- und Industrieanwendungen ermöglicht. Die erworbene Technologie wird in das OpSec-Geschäft von Crane NXT integriert, was es Markeninhabern ermöglicht, die Produktintegrität über smartphonebasierte Authentifizierung mit Hilfe von maschinellem Lernen zu überprüfen. Die Transaktionsbedingungen wurden nicht offengelegt und werden Crane NXT im Jahr 2024 nicht wesentlich beeinflussen.
- Expansion of technological capabilities in product security and authentication
- Enhancement of direct-to-product marking capabilities for consumer and industrial applications
- Integration with existing OpSec business strengthens market position
- None.
Insights
The acquisition of TruTag's Smart Packaging assets represents a strategic expansion into advanced authentication technology, though with immediate financial impact. The technology integration enhances Crane NXT's OpSec business with smartphone-based authentication capabilities and direct-to-product marking solutions.
The deal strengthens Crane NXT's competitive position in the growing product security market, particularly in apparel, government and industrial sectors. The machine learning platform's high accuracy and quick response times provide a technological edge. While not materially impacting 2024 financials, this acquisition positions Crane NXT for long-term growth in the authentication solutions space, addressing increasing demand for supply chain integrity and anti-counterfeiting measures.
WALTHAM, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Crane NXT, Co. (NYSE: CXT) ("Crane NXT" or the "Company"), a premier industrial technology company, today announced that it has completed the acquisition of the Smart Packaging assets of TruTag Technologies. TruTag provides secure digitization of physical products through proprietary secure marking and smartphone authentication.
“The addition of this technology to Crane NXT’s product portfolio is an exciting expansion of our capabilities and further enhances our ability to provide differentiated and innovative technology solutions to our customers,” Aaron W. Saak, Crane NXT's President and Chief Executive Officer, said. “TruTag’s Smart Packaging technology will also expand our capability for direct-to-product marking in both consumer and industrial applications which will further drive profitable growth.”
“This transaction is an important step for TruTag’s evolution as the company focuses on its Smart Medicine and Drug Delivery businesses,” said Barry McDonogh, CEO of TruTag Technologies. Mr. McDonogh added, “The long-standing customer relationships in the apparel, government and industrial markets, along with the alignment to the existing offerings of OpSec, make Crane NXT a natural fit for the Smart Packaging technology.”
This new technology enhances the ability of brand owners to assure the integrity of their products and supply chains. Through an easy to apply, unique signature that can be printed onto labels or direct-to-products and packaging, consumers and brands can authenticate products through their smartphones using a machine-learning based platform that delivers exceptional response times and accuracy.
Terms of the acquisition were not disclosed, and the transaction will not have a material impact on Crane NXT in 2024. TruTag’s products will be incorporated into Crane NXT’s OpSec business.
About Crane NXT, Co.
Crane NXT is a premier industrial technology company that provides trusted technology solutions to secure, detect, and authenticate what matters most to its customers. Through its two industry-leading business segments, Security & Authentication Technologies and Crane Payment Innovations, Crane NXT provides customers with advanced technologies to secure high-value physical products, sophisticated detection equipment and systems, and proprietary products and services that protect brand identity and digital content. Crane NXT’s approximately 4,500 employees help our customers protect their most important assets and ensure secure, seamless transactions around the world every day. For more information, visit www.cranenxt.com.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company's intent, belief, or expectations. Words such as “anticipate(s),” “expect(s),” “intend(s),” “believe(s),” “plan(s),” “may,” “will,” “would,” “could,” “should,” “seek(s),” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. The Company assumes no (and disclaims any) obligation to revise or update these statements to reflect future events or circumstances. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, it can give no assurance that its expectations will be attained. The Company cautions investors not to place undue reliance on any such forward-looking statements.
Risks and uncertainties that could cause actual results to differ materially from the Company's expectations include, but are not limited to: changes in global economic conditions (including inflationary pressures) and geopolitical risks, including macroeconomic fluctuations; demand for its products, which is variable and subject to factors beyond its control; fluctuation in the prices of, or disruption in its ability to source, components and raw materials, and delays in the distribution of its products; information systems and technology networks failures, breaches in data security, theft of personally identifiable and other information, and non-compliance with its contractual or other legal obligations regarding such information; risks associated with conducting a substantial portion of its business outside the U.S.; loss of personnel or being able to hire and retain additional personnel needed to sustain and grow its business as planned; being unable to identify or complete acquisitions, or to successfully integrate the businesses the Company acquires, or complete dispositions; being unable to successfully develop and introduce new products, which would limit its ability to grow and maintain its competitive position; governmental regulations and failure to comply with those regulations; risks from litigation, claims and investigations, including those related to product liability and warranties, and employee, commercial, intellectual property and environmental matters; risks related to its ability to improve productivity, reduce costs and align manufacturing capacity with customer demand; the ability to protect its intellectual property; significant competition in the Company's markets; adverse impacts from intangible asset impairment charges; additional tax expenses or exposures; inadequate or ineffective internal controls; and risks related to the separation transaction, including not obtaining the intended tax treatment of the separation transaction, failure of Crane Company to perform under the various transaction agreements and actual or potential conflicts of interest with Crane Company.
Readers should carefully review Crane NXT, Co.’s financial statements and the notes thereto, as well as the section entitled “Risk Factors” in Item 1A of Crane NXT, Co.’s Annual Report on Form 10-K for the year ended December 31, 2023, and the other documents Crane NXT, Co. and its subsidiaries file from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
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FAQ
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