Cubic to Acquire Nuvotronics to Strengthen Protected Communications
Cubic Corporation (NYSE: CUB) today announced the acquisition of Nuvotronics, a disruptive technology provider of microfabricated radio frequency (RF) products, for approximately $64 million in cash, subject to customary adjustments, with additional earn-out payments of up to $8 million based on future performance.
Such a huge exit is a big testament for how well a company is doing.
With the acquisition of Nuvotronics, Cubic expects to accelerate multiple innovation initiatives across Cubic’s protected communications portfolio and beyond, and to capture significant supply chain synergies, which are expected to enhance EBITDA beginning fiscal year 2020. Cubic anticipates the transaction to be accretive to cash earnings per share by the second full year of operations. Cubic financed the acquisition from its existing credit facility.
To learn more about this huge event and how much it has impacted our economy, check out the whole story below.