![]() “We are pleased to welcome both Delerrok and PIXIA to our Cubic family and look forward to accelerating our key growth priorities in our NextCity TM and NextMission TM strategies.” Feldmann, chairman, president and chief executive officer of Cubic Corporation. “With Delerrok, we will deliver full-featured electronic fare collection benefits to small- and mid-market transportation customers and with PIXIA’s proven track record of supporting the defense and intelligence community with managing geospatial data, we will further strengthen our C2ISR business,” said Bradley H. PIXIA enhances Cubic’s Command and Control, Intelligence, Surveillance and Reconnaissance (C2ISR) digital platform and further enables real-time, cloud strategy to provide information to the edge of the battlefield. As announced on November 20, 2019, the combined transactions are included in our guidance for fiscal year 2020 and are expected to contribute approximately $40 million in Sales, $15 million of Adjusted EBITDA and add approximately $0.20 to Adjusted EPS for fiscal year 2020.Ĭubic leverages Delerrok’s TouchPass platform in combination with its Transit-Management-as-a-Service (TMaaS) platform to deliver a comprehensive set of payment, mobile and real-time information solutions at an affordable price. Cubic had paid $50 million to purchase the initial 20 percent of the outstanding capital stock of PIXIA, representing a multiple of less than 11 times on full calendar year 2020 Adjusted EBITDA. Additionally, Cubic acquired the remaining 80 percent of the outstanding equity of PIXIA for $200 million. The transaction is expected to be neutral to Adjusted EPS by fiscal year 2021 and accretive beginning fiscal year 2022. ![]() ![]() ![]() In prior fiscal years, Cubic paid $6.5 million to purchase the initial 17.5 percent of Delerrok’s outstanding equity. Cubic acquired the remaining 82.5 percent of Delerrok’s outstanding equity for $36.4 million. Cubic Corporation ( NYSE:CUB) today announced the completion of the acquisitions of Delerrok, a provider of a cloud-hosted, multi-agency fare collection platform for small- to mid-sized transit operators, and PIXIA, a provider of high performance, cloud-based solutions to manage and access massive amounts of imagery data. ![]()
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