Cubic Corp acquires TeraLogics and GATR Technology
Cubic Corporation just got a little bigger with the acquisitions of TeraLogics and GATR Technology. With the deals, Cubic Corp will now be able to expand its defense systems business by investing in a Command, Control, Communications, Computers Intelligence, Surveillance and Reconnaissance (C4ISR) portfolio. Cubic Corp acquired TeraLogics for $39 million and GATR for close to $233 million.
Bradley Feldmann, president and chief executive officer of Cubic Corp., says these acquisitions are part of a much larger strategy to transform how it does business.
"The acquisition of TeraLogics and GATR represents powerful next steps in achieving our C4ISR growth strategy as they expand our footprint in the C4ISR and SATCOM markets," said Feldmann. "The transformation of Cubic Global Defense Systems is well under way with these acquisitions, coupled with the excellent performance from DTECH, which we acquired in fiscal year 2015. Having established a focused strategy in the C4ISR sector, we are working aggressively to build scale with increased shareholder returns in higher growth and higher margin markets."
TeraLogics provides real-time Full Motion Video PED for the Department of Defense, as well as other intelligence agencies, officials and professionals. GATR builds next-generational satellite communication terminal solutions.
Mike Twyman, executive vice president of Communications, Intelligence and Surveillance Systems of Cubic Global Defense, said he "looks forward to working with TeraLogics and GATR leadership teams and employees." He went on to to say, "Their collective expertise, talent and innovative cultures will be an asset to Cubic, allowing us to better serve our customers."
While the deal for TeraLogics is complete, the acquisition of GATR is expected to be finalized upon approval by Hart-Scott-Rodino sometime in early 2016.