Banknote printer De La Rue to sell authentication arm to Crane NXT for $391 mln (updated)

Crane NXT

15/10/2024 07:30

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       Oct 15 (Reuters) - British banknote printer De La Rue
 DLAR.L  said on Tuesday it would sell its authentication
business for 300 million pounds  ($391.3 million), including
debt, to industrial technology firm Crane NXT  CXT.N . 
    De La Rue's authentication arm designs and makes secure
documents and security features such as holograms to
authenticate goods. Earlier this year, it renewed its contract
with Microsoft  MSFT.O  to supply security features to the U.S.
technology giant until 2029.
    The sale, which will leave De La Rue to focus on its
banknote design and printing business, will help it cut debt and
reduce its pension deficit, it said.
    U.S.-based Crane NXT provides payments and authentication
technologies. Its authentication division offers advanced
security solutions for securing physical products, including
banknotes, consumer goods, and industrial products. 
         
    
 ($1 = 0.7668 pounds)

 (Reporting by Yadarisa Shabong and Prerna Bedi in Bengaluru;
Editing by Savio D'Souza and Abinaya Vijayaraghavan)
 ((Yadarisa.Shabong@thomsonreuters.com; +91 9742735150;))