“Cubic is the world’s leading provider of automated payment and fare collection systems and services for the transportation industry.” Cubic’s purchase of Abraxas in 2010 for $124 million (US) in cash made sense looking at where the $1.2 billion dollar Cubic Company does business. A large chunk of that money comes from its Defense Systems and Mission Support Operations segments (where Abraxas is apparently operating). Roughly $415 million comes from its Transportation division.
Cubic’s acquisition of Abraxas and its magic bag full of electronic tracking/snooping tools was made two years prior to the 2012 Olympic Games in London.In 2011. The transit authority there had recently installed video cameras on all of its 191 buses. Continue reading