Cubic Corp. Buys Transport Solutions Business From Serco Group for $70MThursday, November 28, 2013
Cubic Corp., the San Diego defense contractor and mass transit fare collection systems provider, said it completed the acquisition of Serco’s Transport Solutions business for $70 million.
The unit of United Kingdom-based Serco is a transport technology and services business with revenue last year of about $67 million. The unit will become part of Cubic Transportation Systems, the company said.
Steve Shewmaker, president of Cubic Transportation Systems, said Transport Solutions has excellent specialist knowledge and capability in the enforcement, road and traffic markets, which is integral to its NextCity vision for integrated solutions that give travelers informed choices while deciding when to make journeys.
Transport Solutions has 253 employees in the U.K. and three in Australia, with offices in East London, Belfast, Birmingham and Cumbernauld in the U.K., and Sydney.
— SDBJ Staff Report