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While the MEI and Crane Co. merger is complete, the hard work of integration begins for the currency validation giant

Crane Co. has used its acquisition of MEI to launch Crane Payment Innovations, or CPI. The coin and note products from CashCode, Money Controls, NRI, Telequip and MEI brands offer the industry’s most comprehensive portfolio of cash management solutions for Gaming, Financial, Retail, Transport and Vending markets.

“We’re building a new, integrated business that will combine the strengths of MEI and Crane Payment Solutions,” said Mike Hayes, CPI president, “Our goal is to earn our customers’ business every day.”

Crane originally announced its intent to acquire MEI on December 12, 2012. The acquisition was completed nearly a year later on December 11, 2013 after two CPS products were divested at the request of the European Commission.

“It’s exciting to think about what CPI will be able to offer customers,” said Tom Nugent, CPI president of Gaming and Retail. “Our challenge, in the immediate future, is to temper the enthusiasm of what can be with the realism of what needs to happen to provide the level of service customers have associated with these brands.

“The realisation of our vision for CPI will be dependent upon collaboration with our loyal customer base. We are embarking upon a journey that will require focus and patience – but one that promises to deliver an unmatched set of products and resources to raise expectations for payment systems.”

The acquisition signifies the potential Crane sees in its ability to add value to applications that rely upon cash transactions. Including the “I” for Innovations is significant as the aforementioned brands have a long history of using technology to create returns on capital investments.

“The combined knowledge of CPI allows us to offer customers the personnel, experience and products to find solutions that impact the bottom line,” said Mr. Nugent. “And, ultimately, that is how we should be measured. We aspire to set a new standard – driving transaction, asset and maintenance efficiencies into customers’ operations.”

Moving forward, the entity will begin to take shape as corporate and customer-facing functions are consolidated. It will take some time. The intent is to have CPS and MEI act as separate

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CPI’s James Boje and Slava Balovnev pictured at ICE 2014 with the SCR recycler. COMBINING ALL THE INGREDIENTS

companies in a “business as usual” state until core functions can be assimilated in a manner that is seamless to customers.

The MEI ICE booth highlighted the contribution MEI has made to the gaming industry worldwide – and its vision for the future. This year MEI introduced the SCR note recycler – joining the SC Advance note acceptor and EASITRAX Soft Count as cash management solutions. The MEI product portfolio continues to evolve from new technology and customer feedback. And, as a result, the booth also showcased the EASITRAX Web and PPM Advance product extensions.

“The SC portfolio will be a model for the evaluation of all CPI products,” said CPI’s Andy Reichlin. “ Our objective is to create a comprehensive set of coin and note products that open possibilities, with the resources in place to ensure the most proficient selection and application of those solutions. And, as always, we will consider product performance, security and overall cost of customer operations (including existing designs and field bases) in any decision that is made.”

The SC portfolio will be a core part of the CPI

portfolio. Modular expansions like BNF, EASITRAX and SCXL have provided the flexibility to cost effectively serve core markets and create newfound cash management efficiencies. Other products will be evaluated over time.

“We realise it is natural to ask about CashCode ONE and Ardac Elite, as well as product from other platforms,” continued Mr. Reichlin. “No other decisions have been made. And those decisions won’t be made until we can explore possibilities with customers and complete a thorough review. We will remain open minded as the evolution to CPI occurs.

Of course, the largest change for MEI is different ownership. The joint entity CPI, combining the products of MEI and CPS (Crane Payment Solutions), promises to offer customers customised solutions and newfound efficiencies.

“The acquisition was finalised on December 12. It will take time to consolidate the organisation,” concluded, Mr. Reichlin. “Our goal is to make that process seamless to our customers. Your existing relationships with sales and technical contacts from CPI companies will remain for the foreseeable future.”

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