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Webtech Wireless Inc Announces Sale Of NextBus Division To Cubic Corp's Cubic Transportation Systems, Inc

Thursday, 24 Jan 2013 11:57am EST 

Webtech Wireless Inc announced that it closed the sale of NextBus division to Cubic Transportation Systems, Inc., a division of Cubic Corp, for total cash proceeds of $20,750,000. Under the terms of agreement, Cubic will acquire all contracts, assets and rights related to the NextBus division, including the shares of NextBus Inc. a wholly owned subsidiary of the Company located in Emeryville CA. The agreement includes a provision under which Webtech Wireless will provide ongoing hardware and ASP services to NextBus. 

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