Cubit acquired Advanced Traffic Solutions for over $235 million
U.S. firm Cubic has entered into an agreement to acquire Advanced Traffic Solutions, which provides intelligent traffic solutions for the transportation industry, for about $235.7 million in a cash transaction.
Trafficware provides an integrated suite of software, internet of things devices and hardware solutions in the mobility segment.
Following the acquisition — which is expected to close today — Trafficware will be integrated into the Cubic Transportation Systems (CTS) business unit.
“Trafficware’s intelligent, data-rich intersection management technology, combined with Cubic’s existing transportation capabilities, will enhance our ability to offer compelling solutions to reduce urban congestion. This technology-driven acquisition of a leader in the transportation industry fits perfectly with our strategy to lead next‐generation intelligent traffic solutions that enable smart cars through smart infrastructure,” said Bradley Feldmann, chairman, president and CEO of Cubic.
“This acquisition will strengthen Cubic’s NextCity strategy to solve the challenges of urban congestion through best-in-class solutions that optimize the use of transportation infrastructure and improve mobility for travelers,” said Matt Cole, president of the CTS unit. “I look forward to realizing the synergies and benefits this acquisition will bring as we work with Trafficware’s strong management team to further develop Trafficware’s leading portfolio of solutions, integrate it with the Operations and Analytics pillar of our strategy, and give customers the benefits of Cubic’s broader solution portfolio.”
Trafficware’s flagship Synchro Studio suite helps improve traffic operations of all sizes, according to the company, which said that its Advanced Traffic Management System (ATMS) is used by more than 200 transportation authorities as a key element of their central traffic management system.
“As we continue to grow market share and move into larger agencies in the U.S. and abroad, Trafficware has faced the needs of multi-modal transportation. With Cubic’s leadership, particularly in transit, around the globe, we see many synergies with Cubic as we continue to aggressively grow our traffic management business organically and through acquisition,” said Jon Newhard, chief executive officer of Trafficware.
