Crane NXT, Co. announced the completion of its acquisition of the Smart Packaging assets of TruTag Technologies. TruTag provides secure digitization of physical products through proprietary secure marking and smartphone authentication. This acquisition represents an expansion of Crane NXT’s capabilities in product security and authentication.
The addition of TruTag's technology enhances Crane NXT's product portfolio. This technology integrates with OpSec's serialization and track-and-trace software, offering a synergistic solution for product authentication. Management previously highlighted that the TruTag acquisition, though small in revenue, is expected to deliver a high double-digit return on invested capital by year three.
This strategic bolt-on further diversifies Crane NXT's offerings in the growing authentication space. It strengthens the company's position in securing products for governments and brands. The acquisition aligns with Crane NXT's strategy to expand into adjacent, high-growth markets through disciplined mergers and acquisitions.
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