Cubic Corporation

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Cubic Corporation
TypePrivate
IndustryPublic transport and defense
FoundedOctober 26, 1949 (incorporated)
1951 (began operations)
FounderWalter J. Zable
HeadquartersSan Diego, California, U.S.
Key people
Stevan Slijepcevic (president, CEO)
Owner
Number of employees
6,200 (2020)[1]
Divisions
  • Cubic Mission and Performance Solutions
  • Cubic Transportation Systems
Websitewww.cubic.com Edit this at Wikidata

Cubic Corporation is an American public transportation and defense corporation. It operates two business segments: Cubic Transportation Systems (CTS) and Cubic Mission and Performance Solutions (CMPS).[2]

History[edit]

Cubic Corporation was founded in 1949 by Walter J. Zable as an electronics company in San Diego, California, and began operations in 1951.[3] Zable devised the company name as he wanted the name to reflect both engineering and precision. Its first product was a calorimetric wattmeter, a device used for measuring microwave output. It became a publicly-traded company in 1959.[4]

In 1969, the company acquired United States Elevator Corporation, a maker of freight and passenger elevators.[5]

In early September 1984, Cubic moved its corporate domicile into Delaware General Corporation Law. The move was completed on June 11, 1985.

Cubic employs 6,200 people globally. Stevan Slijepcevic was named president and chief executive officer of Cubic Corporation in January 2022.[6]

In May 2021, Cubic announced the completion of its sale to the private equity firms Veritas Capital and Evergreen Coast Capital, turning the publicly traded New York Stock Exchange company into a privately held company.[7]

Company divisions[edit]

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.[8][9][2]
  • 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.
  • 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.[10] CTS is one of the world's largest operators of public transport fare collection services.[11][12][13] Founded May 5, 1972.

Products and services[edit]

Cubic smartcard gates on Sydney Metro

Cubic provides the following products and services:[14][15]

  • Ticket machines
  • Smartcard readers
  • Fare-collection gates
  • Revenue management services
    • Card-based
    • Account-based: Chicago's Ventra project for the Chicago Transit Authority[16] 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".[17]
  • Transit customer support
  • Management services to transit agencies
  • Real-time passenger information
    • NextBus is a cloud-based solution that provides real-time passenger information systems to approximately 135 transit organizations.[18]
  • Operational planning assistance
  • Traffic management
  • Predictive analytics
    • Cubic's subsidiary, Urban Insights, provides the predictive analytics business.[20]
  • Tolling
    • Cubic created an integrated payment processing, customer service, and financial management platform for the tolling industry.[21]
  • Parking
  • Operational IT services
  • Asset management services
    • Services include field maintenance, device support, depot repair and part supply, spares and obsolescence, and cash collection.[22]

Projects[edit]

Cubic has delivered over 400 projects in 40 markets on five continents. Cubic first implemented mobile ticketing technology in 2006 and 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.[23] As of 2015, Cubic processes more than 24 billion transactions a year.[24]

In 2017, Cubic was chosen to implement the AFC 2.0 project by the Massachusetts Bay Transportation Authority (MBTA), to update the MBTA's fare collection systems. This project was budgeted originally for $723 million, with a planned completion date of May 2021. As of May 2021, the cost of the project (now called "Fare Transformation") had risen to $935 million, with an updated completion date of 2024.[25][26][27]

Fare Collection Projects
Date Project Location
2024 (estimated) AFC 2.0/Fare Transformation Massachusetts
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

Other units[edit]

  • DTECH Labs provides deployable and tactical communications products and solutions for military, government, first-responders and civilian customers.[28]
  • 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.[29]
  • GATR Technologies manufactures portable, inflatable SATCOM and C4ISR terminals for tactical communications in harsh and forward or remote deployed environments.[29]
  • 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.[30]
  • PIXIA Corp. is an imagery management company.[31]

References[edit]

  1. ^ "Cubic Corporation - About". Cubic Corporation.
  2. ^ a b "Cubic Streamlines Business Segments to Drive Superior Customer Value and Enhance Operational Effectiveness". Cubic Corporation. Retrieved October 5, 2020.
  3. ^ "Cubic History". Cubic Corporation. Retrieved November 23, 2021.
  4. ^ "Cubic Timeline". Cubic Corporation. Retrieved November 23, 2021.
  5. ^ "Cubic History: Founding, Timeline, and Milestones". Zippia. August 27, 2020. Retrieved November 30, 2021.
  6. ^ "Bradley H. Feldmann: Executive Profile & Biography". Bloomberg.
  7. ^ "Cubic Announces Completion of Acquisition by Veritas Capital and Evergreen Coast Capital". Yahoo! News.
  8. ^ "Cubic Mission Solutions".
  9. ^ "Cubic Mission Solutions Expands". Archived from the original on March 28, 2017. Retrieved March 27, 2017.
  10. ^ "Cubic Transportation Systems - Solutions". Cubic Corporation. Retrieved May 18, 2021.
  11. ^ Wright, Ann (March 3, 2011). "Cubic Transportation Systems offers to take on myki". Herald Sun. news.com.au. Retrieved October 29, 2012.
  12. ^ "NVV picks Cubic Transportation for mobile ticketing service". Telecompaper. November 15, 2011. Retrieved October 29, 2012.
  13. ^ "Cubic Transportation Systems wins Oyster ticket machine tender" (Press release). Association of Train Operating Companies. May 23, 2006. Retrieved October 29, 2012.
  14. ^ "Cubic Corporation > Transportation > Solutions". Cubic Corporation. Retrieved September 28, 2015.
  15. ^ "Cubic Corporation > Transportation > Services". Cubic Corporation. Retrieved September 28, 2015.
  16. ^ Jon, Hilkevitch (February 5, 2014). "CTA gives Ventra contractor green light". Chicago Tribune. Chicago Tribune. Retrieved March 3, 2015.
  17. ^ "NextAgent Ticket Office Brochure" (PDF). Cubic Corporation.
  18. ^ "NextBus > Home". nextbus.cubic.com. Retrieved September 28, 2015.
  19. ^ "Cubic Corporation > Transportation > Solutions > Traffic Management". Cubic Corporation. Retrieved September 28, 2015.
  20. ^ "About Us > Urban Insights". urban-insights.com. Retrieved September 28, 2015.
  21. ^ "Cubic Corporation > Transportation > Solutions > Tolling". Cubic Corporation. Retrieved September 28, 2015.
  22. ^ "Cubic Corporation > Transportation > Services > Asset Management". www.cubic.com. Retrieved September 28, 2015.
  23. ^ Reid, Carlton (January 9, 2020). "Oyster Card Supplier Cubic Signs Integration Deal With Transit App Maker Moovit". Forbes.com. Retrieved January 13, 2020.
  24. ^ "Cubic Transportation Systems, NextWave Brochure" (PDF).
  25. ^ Jessen, Klark. "MBTA: AFC 2.0 to Support Faster Trips on Buses and Green Line Trains". Retrieved November 23, 2021.
  26. ^ Anderson, Karen (May 13, 2021). "5 Investigates: MBTA's new fare collection contract years late, millions over budget". WCVB. Retrieved November 23, 2021.
  27. ^ "Fare Transformation Fares Overview". MBTA. Retrieved November 23, 2021.
  28. ^ "Cubic Corporation (NYSE:CUB) acquired DTECH LABS, Inc". Technology Investment Banking. December 16, 2014. Retrieved November 23, 2021.
  29. ^ a b Clevenger, Andrew (December 21, 2015). "Cubic Announces Purchase of GATR, TeraLogics". Defense News. Retrieved November 23, 2021.
  30. ^ Abott, Rich (December 2, 2016). "Cubic Acquires Vocality". Defense Daily. Retrieved November 23, 2021.
  31. ^ Biesecker, Cal (January 6, 2020). "Cubic Completes Acquisition Of Imagery Management Company PIXIA". Defense Daily. Retrieved November 23, 2021.

External links[edit]