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Crane Co Acquires Microtronic AG For 18 Million

STAMFORD, CT -- Crane Co., a diversified manufacturer of highly engineered industrial products, said it has acquired Microtronic AG , a leading maker of closed-site and mobile payment solutions. Crane Co. reportedly paid $18 million for the European company. Crane said the acquisition is expected to strengthen its technology portfolio with Microtronic's complementary capabilities to Crane Connectivity Solutions ' electronic payment and networking platform. CCS was announced earlier this year; its product...

July 27, 2017 | Nick Montano

STAMFORD, CT -- Crane Co., a diversified manufacturer of highly engineered industrial products, said it has acquired Microtronic AG, a leading maker of closed-site and mobile payment solutions. Crane Co. reportedly paid $18 million for the European company.

Crane said the acquisition is expected to strengthen its technology portfolio with Microtronic's complementary capabilities to Crane Connectivity Solutions' electronic payment and networking platform. CCS was announced earlier this year; its products are available in the U.S. through Crane Payment Innovations and Crane Merchandising Systems, two Crane Co. segments serving the vending industry.

"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 CCS senior vice-president and general manager Eric Kaled. "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."

Headquartered in Oensingen, Switzerland, Microtronic AG was founded 30 years ago. The company has maintained a U.S. office in High Point, NC, for the past 10 years. Its latest product for the U.S. market is a transfer station designed for vending operators using legacy Debitek stored-value payment systems. The device permits balances on Debitek cards to be transferred to Microtronic's payment media.

Microtronic US LLC's Terri Starnes-Bryant said that the acquisition "will not affect current or future customers of Microtronic US. All orders will continue through our office for the immediate future."