Cubic Corp. [CUB] on Monday said it has completed the acquisition of the imagery management system company PIXIA, spending $250 million total for the company that provides cloud-based solutions for managing and accessing vast amounts of wide area motion imagery.
Cubic last June initially acquired a 20 percent stake in Virginia-based PIXIA for $50 million and then in November said it had agreed to acquire the remaining stake in the company for an additional $200 million.
Cubic said the acquisition expands its C2ISR capabilities and improves its ability to provide information to the front lines.
Bradley Feldmann, Cubic’s chairman, president and CEO, said in a statement that “with PIXIA’s proven track record of supporting the defense and intelligence community with managing geospatial data, we will further strengthen our C2ISR business.”
PIXIA will operate as part of the Cubic Mission Solutions segment.
CUBIC on Monday also said it completed the $42.9 million acquisition of Delerrok, a provider of a cloud-hosted fare collection platform for small and medium-sized transit operators. The two acquisitions combined are expected to add $40 million to Cubic’s sales in fiscal year 2020 and $15 million in adjusted operating earnings.