SAN DIEGO--(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.
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.