Crane NXT Completes Acquisition And Delists Antares Vision

Crane NXT has taken full ownership of Antares Vision following the completion of a mandatory tender offer and the company’s removal from Euronext Milan.

The deal began in December 2025 when Crane NXT acquired a 32% stake in Antares Vision from Regolo SpA for about €117 million. This purchase triggered obligations under Italian securities law, requiring the company to launch a formal tender offer to remaining shareholders.

By the close of the offer period and its subsequent reopening, Crane NXT had increased its stake to around 97%. This level of ownership enabled the company to exercise squeeze-out rights under Italy’s Testo Unico Della Finanza. So, it is allowed to acquire the remaining shares and take full ownership. Trading in Antares Vision shares was suspended ahead of the delisting, which occurred at March end.

Tender offer process follows established Italian framework

The acquisition followed a standard regulatory path under Italian market rules. The offer document governing the process was approved by CONSOB, ensuring compliance with local securities regulations.

Once Crane NXT crossed the 95% ownership threshold, the company gained the legal right to compel minority shareholders to sell their stakes. At that stage, further negotiation was no longer required under Italian law.

Antares Vision now operates as a wholly owned subsidiary of Crane NXT. Its financial results will be consolidated into the group’s accounts starting from the first quarter of 2026.

Chief executive Aaron W. Saak described the acquisition as an “important milestone,” noting that it expands Crane NXT’s capabilities in authentication and traceability technologies.

Traceability focus expands Crane NXT’s technology portfolio

Antares Vision specialises in serialisation and track-and-trace systems used in regulated industries such as pharmaceuticals, food and beverage, and industrial manufacturing. These systems ensure product authenticity and supply chain transparency.

The business will be integrated into Crane NXT’s Detection and Traceability Technologies segment. This unit operates alongside the company’s payments infrastructure division, which includes Crane Payment Innovations.

While Antares Vision does not operate in the gambling sector, the acquisition strengthens Crane NXT’s portfolio of technology offerings. Its focus on compliance-driven industries aligns with increasing global requirements around product tracking and verification.

Indirect relevance for gaming through payments division

Crane NXT’s connection to the gaming industry is tied to Crane Payment Innovations, which supplies bill validators, coin mechanisms and payment systems used across casino floors and betting terminals. The division is a recognised supplier within the gaming payments ecosystem.

The addition of Antares Vision does not change the operational role of this business. Instead, it expands the group’s capabilities in adjacent areas of regulated technology.

With the delisting complete, Antares Vision will operate privately under the Crane NXT structure from April. The transition removes public market obligations and minority shareholder considerations.

The acquisition reflects a strategic move into traceability and authentication at a time when regulatory standards in sectors such as pharmaceuticals are tightening. It will take around 4 months to switch from initial stake to full ownership.