Cabot Security Materials Inc. (CSMI) closed the sale of its Security Materials business yesterday to security inks specialist SICPA SA for approximately $20 million in cash consideration.
Cabot president and Chief Executive Officer said:
“We are pleased to have completed this transaction at an attractive value for our shareholders”
“SICPA is a leading player in the security industry and we believe that SICPA will be able to expand and accelerate the future growth potential of the Security Materials business.”
Cabot’s Security Materials business, based in Albuquerque, New Mexico, US, produces patented pyrolysis technology for brand protection as well as advanced nanotechnology for covert taggant applications.
The acquisition has created a new SICPA company, STA Technologies Inc., which will be managed operationally by SICPA Securink Corp. in Springfield, Virginia, US.
A statement on the SICPA website said:
“The company is committed to respecting CSMI and other Cabot security materials division contractual agreements with personnel, suppliers and clients. The existing Albuquerque worksite will be developed into a competence centre dedicated to material-based technologies for authentication.”