Cubic Pays $70M for Serco’s Transport Business
Cubic Corp. (NYSE: CUB) has closed a deal for Serco Group plc’s transport solutions business for about $70 million.
The business, headquartered in Hampshire, England, develops and supplies traffic management systems for monitoring and controlling road networks. The tools are used for traffic and incident management, decision support, bus tracking and passenger information. The business also provides safety camera services.
Serco’s business will become part of San Diego-based Cubic, which provides payment and information technology for travel service groups.