Bus

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

BusCon '16 features more than 80 buses, debuts maintenance forum

This year's event definitely had something for everyone, including the most buses on one North American show floor, a closer look at issues set to impact transit maintenance professionals, an up-to-date look at electric buses and a the BusCon Connect hosted buyers program. 

Seattle taps CH2M to deliver BRT expansion program

This BRT program, which is part of the voter-approved Levy to Move Seattle, will provide high-quality transit throughout some of the densest areas of Seattle.

Hometown Trolley acquires Supreme Corp.'s American Trolley product line

The purchase furthers Hometown Trolley's overall strategic business model to become the leading trackless trolley bus manufacturer in the North American transit industry.

Volvo Buses unveils pedestrian and cyclist detection system

The system will be introduced on Volvo’s European city bus fleet in 2017.

Stertil-Koni introduces high-performance, low-capacity hydraulic vehicle lift

The company’s ST 1064 hydraulic mobile column lift has a capacity of 14,000 lbs. per column, or 56,000 lbs. for a set of four.

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

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

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