Cubic completes divestiture of Cubic Global Defense Services
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Cubic Corporation completed the closing of its divestiture of the Cubic Global Defense (CGD) Services business to Valiant Integrated Services. Cubic received approximately $135 million at closing plus $3 million of contingent consideration tied to contract wins expected over the next 12 to 24 months.
“The close of our CGD Services business divestiture to Valiant is an important step for Cubic as we work to ensure we are best positioned to drive sustainable long-term value for our customers, employees and shareholders,” said Bradley H. Feldmann, chairman, president and chief executive officer of Cubic Corporation.
CGD Services is a non-Original Equipment Manufacturer (OEM) providing training, operations, intelligence, maintenance, technical and other support services to the U.S. government and allied nations.
