Cubic to acquire Nuvotronics for $72mn to achieve supply chain synergies
San Diego-based technology company Cubic Corporation announced this week its acquisition of microfabricated radio frequency (MRF) company, Nuvotronics. The deal saw Cubic pay approximately US$64mn in cash for Nuvotronics, with an additional earn-out payment of up to $8mn based on future performance.
Cubic provides integrated solutions that increase situational understanding for transportation, defense C4ISR and training customers worldwide to decrease urban congestion and improve the militaries' effectiveness and operational readiness. Nuvotronics’ MRF products, such as antennas, filters and combiners, are component parts in Cubic’s product offerings. The company is based in Durham, North Carolina and primarily serves government agencies, defense primes and commercial sectors.
The absorption of Nuvotronics are expected to enable Cubic to achieve significant synergies across the company’s supply chain, as well as accelerate multiple innovation initiatives across its protected communications portfolio.
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"Cubic provides integrated mission solutions to solve our customers' most challenging problems. Nuvotronics' high-performance, reduced size, weight and power (SWaP) capability further strengthens Cubic's offering in our high-growth, high-margin Cubic Mission Solutions business," said Bradley H. Feldmann, chairman, president and chief executive officer of Cubic Corporation. "We welcome Nuvotronics to the Cubic family and look forward to integrating their unique technologies, which are highly synergistic with our existing product lines."
"Nuvotronics' PolyStrata technology will significantly enhance our protected communications business and position Cubic to address additional high-priority, dual-use technology markets in space, electronic warfare, hypersonic and 5G communications," said Mike Twyman, president of Cubic Mission Solutions.
"With Cubic's proven track record for rapidly growing C4ISR acquisitions, we are excited about the opportunities to reach new customers at scale," said Scott Meller, executive vice president, Nuvotronics.