Crane Co. Acquires Microtronic AG for million

Crane Co., the parent company of Crane Merchandising Systems (CMS), Crane Payment Innovations (CPI) and Crane Connectivity Solutions (CCS), has acquired Microtronic AG, a manufacturer of closed-site and mobile payment solutions for the European vending market, for cash consideration of approximately $18 million.

Microtronic AG manufactures electronic payment systems, primarily for the European vending market.

The acquisition strengthens Crane’s technology portfolio with the addition of Microtronic’s complementary capabilities to the CCS electronic payment and connectivity platform, which is available in the U.S. through CPI and CMS.

“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 CCS. “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.”