Cubic Transportation Systems, a business segment of San Diego-based Cubic Corp. (NYSE: CUB), announced it has acquired NextBus Inc., a provider of real-time transit passenger information systems with more than 100 transit agency deployments in the United States and Canada.
The acquisition of NextBus from Webtech Wireless Inc. was for a total consideration of CAD$20.75 million, subject to the terms of the purchase agreement.
Focused on the integration of payment and information technology and travel services, Cubic Transportation Systems said in a release that the acquisition is consistent with Cubic's vision and that it extends the company's portfolio of information-based solutions for its transit industry customers. It will also position NextBus to accelerate its growth by leveraging Cubic's global presence and customer base, the company added.
NextBus' customers include the major metro systems in Los Angeles, Toronto, San Francisco, Washington, D.C. and Boston, as well as smaller and mid-sized transit agencies, universities and colleges. The company is described by Cubic as a software-as-a-service solution that improves transit passengers' lives and makes travel experience better with accurate, real-time arrival information about buses, subways and trains.
9333 Balboa Ave.
San Diego, CA 92123