Cubic acquires Nuvotronics for protected communications
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Cubic Corporation has announced the acquisition of Nuvotronics for approximately $64-million in cash, subject to customary adjustments, with additional earn-out payments of up to $8-million based on future performance. The cornerstone of Nuvotronics’ innovation platform is their PolyStrata technology, which was developed under DARPA and enables the company to design and produce uniquely packaged radio frequency (RF) devices, such as antennas, filters and combiners, all of which are components in Cubic’s advanced technology product offerings.
With the acquisition of Nuvotronics, Cubic expects toaccelerate multiple innovation initiatives across Cubic’s protectedcommunications portfolio and beyond, and to capture significant supply chainsynergies, which are expected to enhance EBITDA beginning fiscal year 2020.Cubic anticipates the transaction to be accretive to cash earnings per share bythe second full year of operations. Cubic financed the acquisition from itsexisting credit facility.
“Nuvotronics' PolyStrata technology will significantlyenhance our protected communications business and position Cubic to addressadditional high-priority, dual-use technology markets in space, electronic warfare,hypersonic and 5G communications,” said Mike Twyman, president of Cubic MissionSolutions.
