Cubic Completes Acquisition of GATR Technologies
February 03 2016 - 07:00AM
Business Wire
Cubic Corporation (NYSE: CUB) today announced it received final
Hart-Scott-Rodino regulatory approval and completed its acquisition
of GATR Technologies (GATR), a manufacturer of next-generation
deployable satellite communication terminal solutions based in
Huntsville, Alabama. Cubic completed the acquisition of GATR on
February 2, 2016 for a purchase price of $232.5 million.
GATR Technologies will operate within the Cubic Global Defense
business unit and greatly expands the company’s footprint in the
Command, Control, Communications, Computers, Intelligence,
Surveillance and Reconnaissance (C4ISR) space.
“As a proven leader in the expeditionary satellite
communications industry, GATR Technologies will offer our customers
an even broader offering of key communication solutions to the
Department of Defense, intelligence community and commercial
customers,” said Bradley H. Feldmann, president and chief executive
officer for Cubic Corporation. “We are pleased to have GATR
employees join the Cubic family.”
About Cubic Corporation
Cubic Corporation designs, integrates and operates systems,
products and services focused in the transportation, defense
training and secure communications markets. As the parent company
of two major business units, Cubic’s mission is to increase
situational awareness and understanding for customers worldwide.
Cubic Transportation Systems is a leading integrator of payment and
information technology and services to create intelligent travel
solutions for transportation authorities and operators. Cubic
Global Defense is a leading provider of realistic combat training
systems, secure communications and networking and highly
specialized support services for military and security forces of
the U.S. and allied nations. For more information about Cubic,
please visit the company's website at www.cubic.com or on Twitter
@CubicCorp.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to the safe harbor created by such Act.
Forward-looking statements include, among others, statements about
the anticipated cost of the GATR acquisition and the timing of the
closing of the GATR acquisition. These statements are often, but
not always, made through the use of words or phrases such as “may,”
“will,” “anticipate,” “estimate,” “plan,” “project,” “continuing,”
“ongoing,” “expect,” “believe,” “intend,” “predict,” “potential,”
“opportunity” and similar words or phrases or the negatives of
these words or phrases. These statements involve risks, estimates,
assumptions and uncertainties that could cause actual results to
differ materially from those expressed in these statements,
including, among others: Cubic’s ability to successfully integrate
new companies into its business and to properly assess the effects
of such integration on its financial condition; competition and
technology changes in the industries in which Cubic does business;
and Cubic’s ability to successfully develop, introduce and sell new
products, systems and services in current and future markets. In
addition, please refer to the risk factors contained in Cubic’s SEC
filings available at www.sec.gov, including Cubic’s most recent
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Because the risks, estimates, assumptions and uncertainties
referred to above could cause actual results or outcomes to differ
materially from those expressed in any forward-looking statements,
you should not place undue reliance on any forward- looking
statements. Any forward-looking statement speaks only as of the
date hereof, and, except as required by law, Cubic undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date hereof.
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version on businesswire.com: http://www.businesswire.com/news/home/20160203005167/en/
Cubic CorporationMedia
ContactSuzanne HatcherDirector, Corporate
Communications858-505-2430suzanne.hatcher@cubic.comorInvestor ContactDiane DyerDirector,
Investor Relations858-505-2907diane.dyer@cubic.com
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