Company:Cubic Corporation
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Short description: American public transportation and defense corporation
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| Type | Private |
|---|---|
| Industry | Public transport and defense |
| Founded | 1951 |
| Founder | Walter J. Zable |
| Headquarters | San Diego, California , United States |
Key people | Bradley H. Feldmann (Chairman, President & Chief Executive Officer) Anshooman Aga (EVP & CFO) |
Number of employees | 6,200 (2020) [1] |
| Divisions | Cubic Mission and Performance Solutions Cubic Transportation Systems |
| Website | Cubic.com |
Cubic Corporation is an American public transportation and defense corporation. It operates two business segments, Cubic Transportation Systems and Cubic Mission and Performance Solutions, respectively.[2]
Company details
Cubic employs 6,200 people globally. Cubic's fiscal year 2014 sales totaled $1.398 billion.[3] Bradley H. Feldmann was named president and chief executive officer of Cubic Corporation in July 2014.[4]
As of May 25, 2021, Cubic has announced the completion of sale to private equity firm Veritas Capital and Evergreen Coast Capital, turning a NYSE company into a private company.[5]
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.[6][7][2]
- 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. Cubic Transportation Systems lost the contract for the COMPASS card system used by passengers using San Diego Metropolitan Transit System (SDMTS). Those cards no longer work on September 1, 2021, because they have been replaced by PRONTO cards implemented by INIT, Inc. [8]
- 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.
Other units
DTECH Labs (Acquired 2014)
DTECH Labs provides deployable and tactical communications products and solutions for military, government, first-responders and civilian customers.[9]
Teralogics, LLC. (Acquired 2015)
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.[10]
GATR Technologies (Acquired 2016)
GATR Technologies manufactures portable, inflatable SATCOM and C4ISR terminals for tactical communications in harsh and forward or remote deployed environments.[11]
Vocality (Acquired 2016)
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.[12]
PIXIA Corp. (Acquired 2020)
PIXIA Corp. is an imagery management company. [13]
Cubic Transportation Systems
Cubic Transportation Systems, Inc. is a subsidiary of Cubic that provides IT services to the transportation industry.[14] Headquartered in San Diego, California, with offices in North America, Europe, India, and Australia, it is the world's largest operator of public transport fare collection services.[15][16][17][18]
Products and services
Cubic Transportation Systems' business is centered on contactless smartcard technology.[19] Cubic provides the following products and services.[20][21]
- Ticket machines
- Smartcard readers
- Fare-collection gates
- Revenue management services
- Card-based
- Account-based: Chicago's Ventra project for the Chicago Transit Authority[22] 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".[23]
- Transit customer support
- Management services to transit agencies
- Real-time passenger information
- 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.[25]
- Predictive analytics
- Cubic's subsidiary, Urban Insights, provides the predictive analytics business.[26]
- Tolling
- Cubic created an integrated payment processing, customer service, and financial management platform for the tolling industry.[27]
- Parking
- Operational IT services
- Asset management services
- Services include field maintenance, device support, depot repair and part supply, spares and obsolescence, and cash collection.[28]
Projects
Cubic has delivered over 400 projects in 40 markets on five continents. Cubic first implemented mobile ticketing technology in 2006 (one year prior to the launch of the iPhone and two years prior to the launch of Android) and now 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.[29] As of 2015, Cubic processes more than 24 billion transactions a year.[30]
| Date | Project | Location |
|---|---|---|
| 2018 | Next Generation Ticketing System | Queensland |
| 2017 | OMNY | New York |
| 2013 | Compass Card | Vancouver |
| 2013 | Ventra Card | Chicago |
| 2012 | Opal card | New South Wales |
| 2012 | London Future Ticketing agreement | London |
| 2011 | PATCO Open Payment Pilot including Google Wallet acceptance | Philadelphia and South Jersey |
| 2010 | Clipper card | San Francisco Bay Area |
| 2010 | Scania | |
| 2010 | MTA CharmCard | Maryland |
| 2009 | Compass Card | San Diego County |
| 2009 | EASY Card | Miami metropolitan area |
| 2009 | Modena | |
| 2008 | Transit Access Pass | Los Angeles County |
| 2008 | go card | South East Queensland |
| 2007 | PATH SmartLink | New York metropolitan area |
| 2007 | PATCO Freedom Card | Philadelphia and South Jersey |
| 2006 | MARTA Breeze Card | Atlanta metropolitan area |
| 2006 | RMV / KVV Mobile Ticketing | Frankfurt Rhine-Main |
| 2005 | Go-To card | Minneapolis |
| 2004 | BART EZ Rider | San Francisco Bay Area |
| 2003 | Oyster card | London |
| 2002 | ChicagoCard | Chicago |
| 1999 | WMATA SmarTrip | Washington metropolitan area |
| 1997 | Chicago Transit Authority Transit Card (phased out in 2014) | Chicago |
| 1997 | Skånetrafiken public transportation authority, JoJo card (phased out in December 2019) | Skåne County |
| 1991 | MetroCard | New York metropolitan area |
Accounting restatement
On August 1, 2012, after discussion with the audit committee, Cubic's management agreed to restate its financial statements for the year ended October 31, 2011, 2010, and 2009.[31] Consequently, Cubic was forced to restate all of its previous Quarterly financial statements. What prompted the restatement was an issue with the revenue recognition policy adopted by management. The restatement produced an increase in equity of $26.9 million.[32]
References
- ↑ "Cubic Corporation - About". Cubic Corporation. https://www.cubic.com/about.
- ↑ 2.0 2.1 "Cubic Streamlines Business Segments to Drive Superior Customer Value and Enhance Operational Effectiveness". Cubic Corporation. https://www.cubic.com/news-events/news/cubic-streamlines-business-segments-drive-superior-customer-value-and-enhance. Retrieved 5 October 2020.
- ↑ NYSE
- ↑ "Bradley H. Feldmann: Executive Profile & Biography". Bloomberg. https://www.bloomberg.com/research/stocks/people/person.asp?personId=262873&ticker=CUB.
- ↑ "Cubic Announces Completion of Acquisition by Veritas Capital and Evergreen Coast Capital". https://finance.yahoo.com/news/cubic-announces-completion-acquisition-veritas-132900067.html.
- ↑ "Cubic Mission Solutions". https://finance.yahoo.com/news/cubic-appoints-two-executives-mission-120000132.html.
- ↑ "Cubic Mission Solutions Expands". http://www.cbs58.com/story/34621806/cubic-to-feature-range-of-integrated-communication-solutions-at-satellite-2017.
- ↑ "Error: no
|title=specified when using {{Cite web}}". http://www.ridePRONTO.com. - ↑ "Cubic Acquires DTECH Labs". 16 December 2014. http://oemcapital.com/2014/12/cubic-corporation-nysecub-acquired-dtech-labs-inc/.
- ↑ "Cubic acquires Teralogics". 21 December 2015. http://www.defensenews.com/story/defense/policy-budget/industry/2015/12/21/cubic-announces-purchase-gatr-teralogics/77706334/.
- ↑ "Cubic Acquires GATR Technologies". 21 December 2015. http://www.defensenews.com/story/defense/policy-budget/industry/2015/12/21/cubic-announces-purchase-gatr-teralogics/77706334/.
- ↑ "Cubic Acquires Vocality". 2 December 2016. http://www.defensedaily.com/cubic-acquires-small-communications-subsystems-supplier-vocality-international-2/.
- ↑ "Cubic Completes Acquisition Of Imagery Management Company PIXIA". 6 January 2020. https://www.defensedaily.com/cubic-completes-acquisition-imagery-management-company-pixia/business-financial/.
- ↑ "Cubic | Transportation Systems - Solutions". https://www.cubic.com/solutions/transportation.
- ↑ Wright, Ann (March 3, 2011). "Cubic Transportation Systems offers to take on myki". Herald Sun (news.com.au). http://www.news.com.au/top-stories/cubic-transportation-systems-offers-to-take-on-myki/story-e6frfkp9-1226015136624. Retrieved 29 October 2012.
- ↑ "NVV picks Cubic Transportation for mobile ticketing service". telecompaper. 15 November 2011. http://www.telecompaper.com/news/nvv-picks-cubic-transportation-for-mobile-ticketing-service. Retrieved 29 October 2012.
- ↑ "Cubic Transportation Systems wins Oyster ticket machine tender" (Press release). Association of Train Operating Companies. 23 May 2006. Retrieved 29 October 2012.
- ↑ "About Us | Cubic Corporation". http://www.cubic.com/About-Us. Retrieved 2015-09-28.
- ↑ "Cubic Transportation Systems (India) Launches Smart Card Trial". Bloomberg (Press release). 8 December 2009. Retrieved 21 July 2011.
- ↑ "Cubic Corporation > Transportation > Solutions". http://www.cubic.com/Transportation/Solutions. Retrieved 2015-09-28.
- ↑ "Cubic Corporation > Transportation > Services". http://www.cubic.com/Transportation/Services. Retrieved 2015-09-28.
- ↑ Jon, Hilkevitch (February 5, 2014). "CTA gives Ventra contractor green light". Chicago Tribune. http://articles.chicagotribune.com/2014-02-05/news/ct-cta-ventra-met-0206-20140206_1_ventra-customers-cubic-transportation-systems-inc-cta-president-forrest-claypool. Retrieved 3 March 2015.
- ↑ "NextAgent Ticket Office Brochure PDF". https://www.cubic.com/Portals/0/Publications/NextAgent-ticket-office.pdf.
- ↑ "NextBus > Home". http://nextbus.cubic.com/. Retrieved 2015-09-28.
- ↑ "Cubic Corporation > Transportation > Solutions > Traffic Management". http://www.cubic.com/Transportation/Solutions/Traffic-Management. Retrieved 2015-09-28.
- ↑ "About Us > Urban Insights". http://urban-insights.com/About-Us. Retrieved 2015-09-28.
- ↑ "Cubic Corporation > Transportation > Solutions > Tolling". http://www.cubic.com/Transportation/Solutions/Tolling. Retrieved 2015-09-28.
- ↑ "Cubic Corporation > Transportation > Services > Asset Management". http://www.cubic.com/Transportation/Services/Asset-Management. Retrieved 2015-09-28.
- ↑ Reid, Carlton (January 9, 2020). "Oyster Card Supplier Cubic Signs Integration Deal With Transit App Maker Moovit". https://www.forbes.com/sites/carltonreid/2020/01/09/oyster-card-supplier-cubic-signs-integration-deal-with-transit-app-maker-moovit/. Retrieved January 13, 2020.
- ↑ "Cubic Transportation Systems, NextWave Brochure". https://www.cubic.com/Portals/0/Files/Tech-Center/NextWave-brochure-A4-lores.pdf.
- ↑ "Cubic Corporation to Restate Financial Statements > Cubic Corporation". 2016-03-06. http://www.cubic.com/news/press-releases/id/423/cubic-corporation-to-restate-financial-statements.
- ↑ "Cubic Corporation Reports Financial Results for Fiscal Year Ended September 30, 2012 / Completes Restatement for Fiscal Years 2009, 2010, and 2011 and Interim Periods", Marketwire, "FinanzNachrichten", December 14, 2012
External links
Transport external links
- “Cities Can Use Big Data to Find Out What They Really Don’t Know”. NextCity (Article). 25 August 2015.
- “Nightmare Metro Commutes Aside, DC Is Ramping up Its Transit Tech”. DCInno (Article). 21 August 2015.
- “Creator of London’s Oyster card could be myki savior”. The Age (Article). 17 June 2015.
- “Six Awards and Counting! Cubic et al Can’t be Stopped”. Tech Co. (Article). 12 June 2015.
- “Cubic Transportation Systems Wins Major International Bid”. Tech Co. (Article). 8 May 2015.
- “London's Transit Payments Light the Way for Other Regions”. PaymentsSource (Article). 14 April 2015.
- “Buy Metra Tickets and Reload a Ventra Account With Upcoming App”. Streetsblog Chicago (Article). 10 April 2015.
- “Cubic taps Masterpass for mobile travel ticketing app”. Pymnts.com (Article). 4 March 2015.
- “Transport ticketing innovations recognized”. Passenger Transport (Article). 12 February 2015.
- “Cubic Brings NextCity Strategy to Chicago Transit”.[yes|permanent dead link|dead link}}] PaymentsSource (Article). 16 December 2014.
- “Connect 3.0 Names San Diego’s Most Innovative Products of 2014”. Xconomy (Article). 5 December 2014.
- “A Sneak Peek at America’s Finest Tech Products”.[yes|permanent dead link|dead link}}] San Diego 6 (Article). 4 December 2014.
- “Future of travel: Commuter apps that solve problems before the trip starts”. Washington Post (Article). 5 November 2014.
- “Los Angeles Metro taps Cubic for TAP upgrade”. Railway Age (Article). 29 October 2014.
- “Apple's Plan To Kill Your Wallet Is Even More Ambitious Than You Realize”. Business Insider (Article). 27 October 2014.
- “Apple Eyes New Uses for NFC Beyond iPhone Payments”. The Information (Article). 27 October 2014.
- “Apple Pay your train ticket and office ID tips report”. Slashgear (Article). 27 October 2014.
- “ITS World Congress 2014 Thinking Aloud Show 2”. Thinking Highways (Podcast). 11 September 2014.
- “ITS World Congress 2014 Thinking Aloud Show 4”. Thinking Highways (Podcast). 11 September 2014.
- “TfL picks Cubic for £660m front office deal”[yes|permanent dead link|dead link}}]. Government Computing (Article). 11 August 2014.
- “Cubic Awarded Over $8 Million Contract for Washington Metro SmarTrip® Sale and Reload Devices”. Metro Magazine (Article). 29 July 2014.
- “Transit's New Payment Routes”.[yes|permanent dead link|dead link}}] Digital Transactions (Newsletter Article). July 2014.
- “Cubic's Transportation Systems Gets $7.5 Million Deal”. San Diego Business Journal (Article). 24 April 2014.
- “Cubic expands Bay Area Clipper card network”. San Diego Union Tribune (Article). 23 April 2014.
- “Make Sure Riders Pay Their Fare Share”. Mass Transit (Article). 7 March 2014.
- “Effectively Using Data”. Mass Transit (Article). 7 March 2014.
- “Here’s to You, MBTA Bus-Tracking Apps”. Boston Magazine (Article). 22 January 2014.
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