Cubic Corporation is an American public transportation and defense corporation. It operates two business segments: Cubic Transportation Systems (CTS) and Cubic Mission and Performance Solutions (CMPS).
History
Cubic Corporation was founded in 1949 by
Walter J. Zable as an electronics company in
San Diego
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the eighth most populous city in the United State ...
, California, and began operations in 1951. Zable devised the company name as he wanted the name to reflect both engineering and precision. Its first product was a calorimetric
wattmeter
The wattmeter is an instrument for measuring the electric active power (or the average of the rate of flow of electrical energy) in watts of any given circuit. Electromagnetic wattmeters are used for measurement of utility frequency and audio ...
, a device used for measuring microwave output. It became a
publicly-traded company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...
in 1959.
In 1969, the company acquired United States Elevator Corporation, a maker of freight and passenger elevators.
In early September 1984, Cubic moved its corporate domicile into
Delaware General Corporation Law
The Delaware General Corporation Law (Title 8, Chapter 1 of the Delaware Code) is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. Adopted in 1899, the statute has since seen Delaware become the most im ...
. The move was completed on June 11, 1985.
Cubic employs 6,200 people globally. Stevan Slijepcevic was named president and chief executive officer of Cubic Corporation in January 2022.
In May 2021, Cubic announced the completion of its sale to the private equity firms
Veritas Capital
Veritas Capital is a New York-based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The ...
and Evergreen Coast Capital, turning the publicly traded
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...
company into a
privately held company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is ...
.
Company divisions
Cubic's operating segments include:
* Cubic Mission and Performance Solutions provides networked command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) capabilities for defense, intelligence, security and commercial missions, as well as realistic combat training systems, secure communications, operations, maintenance, technical and other support services for the U.S. and allied nations.
* Cubic Defence New Zealand Ltd (previously, OSCMAR International Limited) is a manufacturer of training and simulations systems for military forces around the world. It is based in
Auckland
Auckland (pronounced ) ( mi, Tāmaki Makaurau) is a large metropolitan city in the North Island of New Zealand. The most populous urban area in the country and the fifth largest city in Oceania, Auckland has an urban population of about ...
,
New Zealand
New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...
, and owned by Cubic Corporation.
* Cubic Transportation Systems designs, integrates, and provides outsourced business process and
information technology
Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of Data (computing), data . and information. IT forms part of information and communications technology (ICT). An information te ...
services for
automated fare collection
An automated fare collection (AFC) system is the collection of components that automate the ticketing system of a public transportation network - an automated version of manual fare collection. An AFC system is usually the basis for integrated tick ...
systems for public transit operations. Additionally, this segment provides the fare payment infrastructure, including gates, ticket machines and smart card readers, and the back end or central system for processing and reporting revenue and other data. Services include customer support, software support, and operations services. CTS is one of the world's largest operators of
public transport
Public transport (also known as public transportation, public transit, mass transit, or simply transit) is a system of transport for passengers by group travel systems available for use by the general public unlike private transport, typi ...
fare collection services. Founded May 5, 1972.
Products and services
![SydneyMetro39](https://upload.wikimedia.org/wikipedia/commons/c/c4/SydneyMetro39.jpg)
Cubic provides the following products and services:
* Ticket machines
* Smartcard readers
* Fare-collection gates
* Revenue management services
** Card-based
** Account-based: Chicago's
Ventra
Ventra is an electronic fare payment system for Regional Transportation Authority (Illinois) which replaced the Chicago Card and the Transit Card automated fare collection systems. Ventra (purportedly Latin for "windy," though the actual Latin wo ...
project for the
Chicago Transit Authority
The Chicago Transit Authority (CTA) is the operator of mass transit in Chicago, Illinois, United States, and some of its surrounding suburbs, including the trains of the Chicago 'L' and CTA bus service. In , the system had a ridership of , ...
and London
Oyster Cards
The Oyster card is a payment method for public transport in London (and certain areas around it) in England, United Kingdom. A standard Oyster card is a blue credit-card-sized stored-value contactless smart card. It is promoted by Transport ...
are two of Cubic's account-based products.
** Mobile
** Devices: NextAgent is a concept in transport ticketing using high-speed video links enabling customers to interact with ticketing staff in real-time. It is a solution for transport operators to respond to significant trends in ticketing and allows them to balance request in a cost-effective manner by locating ticketing in centralized ticketing "hubs".
* Transit customer support
* Management services to transit agencies
* Real-time passenger information
**
NextBus
NextBus is a public transit vehicle tracking system which uses global positioning satellite information to predict when the next vehicle will arrive at any given transit stop, which attempts to reduce wait times and reliance on schedules.
NextBus ...
is a cloud-based solution that provides real-time passenger information systems to approximately 135 transit organizations.
* Operational planning assistance
* Traffic management
** Customers in the UK include the Highways Agency,
Transport for London, and
Transport Scotland
Transport Scotland ( gd, Còmhdhail Alba) is the national transport agency of Scotland. It was established by the Transport (Scotland) Act 2005, and began operating on 1 January 2006 as an Executive Agency of the Scottish Government.
Organisa ...
. Cubic also works for
Transport for New South Wales
Transport for NSW, sometimes abbreviated to TfNSW, and pronounced as Transport for New South Wales, is an agency of the New South Wales Government established on 1 November 2011, and is the leading transport and roads agency in New South Wales, ...
in Australia.
* Predictive analytics
** Cubic's subsidiary, Urban Insights, provides the predictive analytics business.
* Tolling
** Cubic created an integrated payment processing, customer service, and financial management platform for the tolling industry.
* Parking
* Operational IT services
* Asset management services
** Services include field maintenance, device support, depot repair and part supply, spares and obsolescence, and cash collection.
Projects
Cubic has delivered over 400 projects in 40 markets on five continents. Cubic first implemented mobile ticketing technology in 2006 and produces multiple mobile fare collection options, including mobile ticketing through barcoding,
NFC
NFC may refer to:
Psychology
* Need for cognition, in psychology
* Need for closure, social psychological term
Sports
* NFC Championship Game, the National Football Conference Championship Game
* NCAA Football Championship (Philippines)
* Nati ...
tools, contact and contactless smartcard payments, and traditional automated fare collection systems. Cubic Transportation Systems manages around 70% of the global market for smart transit cards. As of 2015, Cubic processes more than 24 billion transactions a year.
In 2017, Cubic was chosen to implement the AFC 2.0 project by the
Massachusetts Bay Transportation Authority
The Massachusetts Bay Transportation Authority (abbreviated MBTA and known colloquially as "the T") is the public agency responsible for operating most public transportation services in Greater Boston, Massachusetts. The MBTA transit network in ...
(MBTA), to update the MBTA's fare collection systems. This project was budgeted originally for $723 million, with a planned completion date of May 2021. As of May 2021, the cost of the project (now called "Fare Transformation") had risen to $935 million, with an updated completion date of 2024.
On October 21, 2022, it was announced that
Waka Kotahi/New Zealand Transport Agency had signed a contract with Cubic for the development of their
National Ticketing Solution. The National Ticketing Solution will allow the use of a single fare card on public transport across the whole of
New Zealand
New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...
Other units
* DTECH Labs provides deployable and tactical communications products and solutions for military, government, first-responders and civilian customers.
* TeraLogics is a provider of real-time Full Motion Video Processing Exploitation and Dissemination for the Department of Defense, the intelligence community, and commercial customers based in Ashburn, Virginia.
* GATR Technologies manufactures portable, inflatable SATCOM and C4ISR terminals for tactical communications in harsh and forward or remote deployed environments.
* Vocality provides embedded technology that unifies communication platforms enabling its business, government, and military customers to communicate securely using legacy systems with the latest wireless and cellular networks.
* PIXIA Corp. is an imagery management company.
References
External links
*
{{Authority control
Companies formerly listed on the New York Stock Exchange
Manufacturing companies based in San Diego
Manufacturing companies established in 1951
Defense companies of the United States
American companies established in 1951
2021 mergers and acquisitions
Private equity portfolio companies