29th Jan 2016 08:25
LONDON (Alliance News) - Banknote authentication and brand protection technologies company Spectra Systems Corp on Friday said it has struck a deal to acquire a series of specialty phosphour assets used to authenticate banknotes.
Spectra will pay USD3.2 million to acquire the assets, along with the long-standing customer relationships related to the assets, including with a major banknote inks supplier. No details were provided on the seller.
"We are pleased to have completed the acquisition of these key assets which will expand our high margin phosphour business and the palette of world banknotes which depend on inks made with our materials," said Nabil Lawandy, Spectra's chief executive.
Spectra shares were untraded early Friday, having last traded at 16.60 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Spectra (unres)