Crane NXT to acquire OpSec Security for $270M in cash

Crane NXT announced it has signed a definitive agreement with Investcorp Technology Partners Investcorp to acquire OpSec Security OpSec for $270M in cash, subject to customary adjustments. OpSec is a global leader in brand protection and authentication solutions, serving the world’s most recognized brands, as well as government agencies and financial institutions. Aaron W. Saak, Crane NXT’s President and Chief Executive Officer stated: “OpSec is an excellent fit with our portfolio of technologies that secure, detect, and authenticate our customers’ most valuable assets. The authentication and brand protection markets are large and growing, bolstered by secular mega trends, including the continuous rise of counterfeiting and proliferation of online marketplaces, as well as digital media and piracy…The acquisition will expand Crane NXT’s capabilities across the entire product and brand authentication value chain. ..This agreement does not include the acquisition of Zacco, currently part of OpSec, which will remain with Investcorp. The parties intend for OpSec and Zacco to continue a business relationship post-acquisition. Excluding Zacco, OpSec expects to generate approximately $130 M in revenue for fiscal 2024. Crane NXT expects the acquisition to be accretive to Adjusted EPS in 2025 and to achieve double digit ROIC by year five, driven by the growth outlook for OpSec and transaction synergies. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.