Cubic acquires Serco's Transport Solutions

Posted on November 27, 2013

Cubic Corp. completed the acquisition of Serco’s Transport Solutions business for an enterprise value of $70 million subject to adjustment as set forth in the purchase agreement. Cubic announced last June that it had entered into exclusive due diligence for the acquisition.

Serco’s Transport Solutions business will become a part of Cubic Transportation Systems, a leading integrator of payment and information technology and services for intelligent travel solutions. Serco’s Transport Solutions business is primarily a U.K.-based transport technology and services business and had revenues in the last calendar year of approximately $67 million.

For more than 20 years, Serco’s Transport Solutions business has specialized in the development and supply of complex traffic management systems for the monitoring and control of urban and intra-urban road networks, encompassing integrated traffic and incident management, decision support, bus tracking and passenger information through integrated user interfaces.

The business also provides safety camera and associated back office solutions as well as a complete capability for the installation and maintenance of intelligent transport systems and equipment, such as maintaining over a third of London’s traffic lights.

Serco Transport Solutions employs 253 people across the U.K. and three in Australia with offices in Stockton on Tees, Beckton (East London), Belfast, Birmingham and Cumbernauld, near Glasgow, Scotland, as well as in Sydney.

View comments or post a comment on this story. (0 Comments)

More News

Alexander Dennis' Enviro500 concept bus on display in Singapore

The full low-floor, three-door, two-staircase double-deck bus is being shown at the LTA-UITP Singapore International Transport Congress and Exhibition in Suntec City.

ETA adds Intelligent Transit System to Grand Valley

The new ITS provides Grand Valley with ETA's real-time arrival predictions, fare collection system integration, automatic on-board announcements, and the tools to track and chart system improvements over time.

Proterra names Honeywell, Tesla vet to COO post

Josh Ensign’s track record includes leading global operations for 42 factories in 15 countries and managing the supporting supply chains. 

Nova announces 2 major orders for San Antonio VIA, Houston Metro

The buses will be manufactured in Plattsburgh, state of New York, and the delivery of the vehicles has already begun in Houston.

Driverless bus service in France sets world record

The two electric vehicles, fitted with high-tech equipment including laser sensors, stereo vision and GPS, can ferry around 15 passengers at a top speed of 12 mph.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close