Cubic Transportation Systems

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, 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, a device used for measuring microwave output. It became a publicly-traded company 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 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 and Evergreen Coast Capital, turning the publicly traded New York Stock Exchange company into a privately held company.

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, New Zealand, and owned by Cubic Corporation.
* Cubic Transportation Systems designs, integrates, and provides outsourced business process and information technology services for automated fare collection 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 fare collection services. Founded May 5, 1972.

Products and services

Cubic provides the following products and services:
* Ticket machines
* Smartcard readers
* Fare-collection gates
* Revenue management services
** Card-based
** Account-based: Chicago's Ventra project for the Chicago Transit Authority and London Oyster Cards 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 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. Cubic also works for Transport for 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 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 (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

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

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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