Cubic acquires Traf-Park Inc.

Cubic Transportation Systems Inc. acquired Traf-Park Inc. of Quebec, a provider of automated parking systems in North and South America. The acquisition is the first step in Cubic's effort to broaden its core business in fare collection systems for public transportation by expanding its products and services group. The group will focus on leveraging Cubic's smart-card systems technology for additional commuter service applications, such as parking. Traf-Park's customer base includes transit operators, universities, hospitals and parking operators.