Cubic Enters into Exclusive Due Diligence for the Acquisition of the Transport Solutions Business of Serco
SAN DIEGO, Calif., June 7, 2013 (GLOBE NEWSWIRE) -- via PRWEB - Cubic Corporation is in discussions to acquire the Transport Solutions business from Serco.
Serco's Transport Solutions business is a provider of Traffic Management Systems technology, Traffic and Road Enforcement and the maintenance of traffic signals, emergency equipment and other critical road and tunnel infrastructure. Cubic believes the business has excellent specialist knowledge and capability in the enforcement, road and traffic markets. Transport Solutions support customers such as Transport for London, the Highways Agency, Transport Scotland, numerous Safety Camera Partnerships (SCPs) and Transport for New South Wales.
Cubic and Serco have not entered a final and binding agreement. In the event that such an agreement is reached, it is Cubic's intention to integrate the business into its Transportation Systems division, a leading integrator of technology and services for intelligent travel solutions.
About Cubic Corporation
Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems. Cubic Defense Systems is a leading provider of realistic combat training systems and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services for U.S. and allied nations.
Cubic® Transportation Systems, Inc., is a leading integrator of payment and information technology and services for intelligent travel solutions. Cubic delivers integrated solutions that help transport operators manage their operations and services and give passengers choices in the smartest and easiest ways to pay their fares. Cubic specializes in design, development, manufacture, supply, installation, integration, services and information. Services provided by Cubic include on-site management, central systems, operations support, patron support, business support and field services.
Every year, nearly 7 billion rides are taken worldwide using Cubic payment and information systems. Cubic has delivered over 400 projects in 40 major markets on five continents. Active projects include London; Brisbane (Southeast Queensland) region, Australia; New York/New Jersey region; Washington, D.C. /Baltimore/Virginia region; Los Angeles region; San Diego region; San Francisco region; Minneapolis/St. Paul; Chicago; Atlanta region; Miami (South Florida) region; Vancouver and Edmonton, Canada; Sydney (New South Wales), Australia; Germany; and Scandinavia.
For more information about Cubic, see the company's website at http://www.cubic.com.
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CONTACT: Cubic Corporation Timothy Hill firstname.lastname@example.org 858-505-2430
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