04:05 AM EDT, 10/15/2024 (MT Newswires) -- Crane NXT ( CXT ) said Tuesday it has agreed to acquire De La Rue's authentication business for 300 million British pounds ($391.8 million) in cash.

The acquisition, expected to close H1 of 2025, is subject to customary closing conditions. It does not include De La Rue's currency business. De La Rue's authentication business generated about $130 million in revenue in the fiscal year ended March 30.

Crane said it expects the acquisition to be accretive to its adjusted earnings per share in the first year and to achieve double-digit return on investment capital in five years.

The company said the acquisition also complements its authentication and online brand protection offerings.

"This acquisition expands our technology capabilities and will drive profitable growth in new markets," said Aaron W. Saak, Crane's president and chief executive.