Cubic Unifies Growing Traffic Management Brands to Cubic ITS to Better Serve Customers
Cubic Corporation (NYSE:CUB) today announced that its Cubic Transportation Systems (CTS (News - Alert)) business division integrated its recently acquired traffic management brands, Trafficware and GRIDSMART, with its Intelligent Transport Systems (ITS) business based in Stockton-on-Tees, U.K., to create Cubic ITS. Cubic ITS will be led by Vice President and General Manager Jon Newhard, formerly vice president and general manager of Trafficware.
"The creation of Cubic ITS is important for the maturation of our business, sets the stage for our future growth and allows us to leverage our products and go-to-market synergies," said Matt Cole, president of Cubic Transportation Systems. "The integration of our ITS businesses further strengthens our NextCity™ vision and firmly establishes Cubic as the ITS leader in our core markets."
Since the acquisitions of Trafficware and GRIDSMART, Cubic has added 15 new traffic management customers for Trafficware's Advanced Transportation Management System (ATMS) and expanded into more than 200 new cities and communities with GRIDSMART's smart traffic ystems with help from Trafficware's sales channels. Thanks to the rapid expansion of these traffic management systems, Cubic's overall growth in the ITS business was approximately 20 percent.
"Cubic has rapidly become the leader in the North American ITS market. With the acquisitions of Trafficware and GRIDSMART, as well as our existing ITS capabilities, Cubic ITS not only has the largest scale and the fastest growth in our space, but also an unparalleled ability to serve our increasingly global customers with innovation and the highest levels of service," said Newhard. "We deliver on the Surface Transportation aspect of NextCity™ and the combination of Cubic ITS' capabilities will make traffic agencies more efficient and effective at urban mobility."
With Newhard's appointment as Vice President and General Manager of Cubic ITS, former Trafficware Vice President of Finance, Strategy and Business Development Joe Custer is promoted to Vice President and General Manager of Trafficware. Custer will assume strategic leadership of Trafficware and will focus on core products and services, smart city expansion, connected vehicle initiatives and bringing the computing power of Artificial Intelligence (AI) and Internet of Things (IoT) to the roadway.
Jeff Price, former Chief Technology Officer of GRIDSMART, is appointed to Vice President and General Manager of GRIDSMART. Price will lead the operations, product development and customer success as GRIDSMART advances its smart traffic systems to new markets.
David Powell will manage the ITS business in Stockton-on-Tees as it makes a strategic pivot from a project-based business to software products. Custer, Price and Powell will report directly to Newhard.
About Cubic Corporation
Cubic is a technology-driven, market-leading provider of 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. Our teams innovate to make a positive difference in people's lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit the company's website at www.cubic.com or on Twitter (News - Alert) @CubicCorp.
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