Crane Co. Strengthens Connectivity Portfolio
STAMFORD, Conn (25 July 2017).---Crane Co. (NYSE:CR), a diversified manufacturer of highly-engineered industrial products, announced today that it has acquired Microtronic AG, a leading manufacturer of closed-site and mobile payment solutions for the European vending market.
The acquisition strengthens Crane’s technology portfolio with the addition of Microtronic’s complementary capabilities to Crane Connectivity Solutions’ (CCS) electronic payment and connectivity platform, which is available in the US through Crane Payment Innovations and Crane Merchandising Systems.
“We strive to simplify connectivity technology for our customers worldwide, and the integration of Microtronic will be a critical element in achieving this goal,” said Eric Kaled, senior vice president and general manager for Crane Connectivity Solutions. “Combining Microtronic and Crane technology enables us to deliver a unified open, closed and mobile payment solution. The result is better functionality and lowest total cost of ownership for our global customers.”
For more information about Crane Connectivity Solutions, please visit www.craneconnectivity.com.
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About Crane Connectivity Solutions
Crane Connectivity Solutions (CCS), a joint venture between Crane Payment Innovations and Crane Merchandising Systems, is a leader in intelligent system design. Connecting millions of unattended machines with consumers worldwide, CCS delivers comprehensive solutions in wireless connectivity, enterprise software, digital advertisement, mobile applications and electronic payments. For more information: www.craneconnectivity.com
About Crane Payment Innovations
Crane Payment Innovations (CPI), a Crane Co. company, is a global leader for currency validation in the unattended retail space, processing over four billion transactions per week. The integration of Crane Payment Solutions and MEI Conlux Holdings, CPI serves the vending, financial services, gaming, retail and transportation markets in more than 100 countries, and represents one of the world’s largest installed bases of payment systems. Backed by decades of experience from the MEI, Conlux, CashCode, Telequip, MoneyControls and NRI legacy brands, CPI creates intelligent validation technologies and payment solutions that deliver industry-leading accountability, reliability and security. For more information: www.cranepi.com.
About Crane Merchandising Systems
Crane Merchandising Systems designs and manufactures a diverse, yet integrated portfolio of automatic merchandising equipment across multiple verticals, including hot and cold beverage, snack, and food. It also offers other vending solutions including cashless processing, payment devices, vending management software and wireless communication technology. Its legacy of brands (Automatic Products®, Dixie Narco®, GPL®, National Vendors™, Stentorfield™ and Streamware®) enables Crane to provide customers a complete, cross-platform solution while maintaining innovation, quality and service.
Crane Co. is a diversified manufacturer of engineered industrial products. Crane Co. is traded on the New York Stock Exchange (NYSE:CR).