Cubic Corp. has acquired Nuvotronics, a provider of micro-fabricated RF products, principally using its patented PolyStrata® technology. PolyStrata, which was developed with DARPA sponsorship, enables packaging highly integrated RF assemblies, including antennas, filters and combiners.
Cubic plans to use Nuvotronics’ capabilities in Cubic’s advanced technology products, including the company’s protected communications portfolio. Nuvotronics, based in Durham, North Carolina, also contributes relationships and partnerships with government agencies, defense primes and commercial companies.
Cubic provides integrated mission solutions to solve our customers’ most challenging problems. Nuvotronics’ high performance, reduced SWaP capability further strengthens Cubic’s offering in our high-growth, high-margin Cubic Mission Solutions business.” — Bradley H. Feldmann, chairman, president and CEO of Cubic
Cubic is paying $64 million in cash for Nuvotronics, with additional earn-out payments of $8 million if performance targets are achieved. Cubic sees “significant” supply chain synergies improving EBITDA beginning in fiscal 2020 and said the transaction should be accretive to cash earnings per share by the second full year of operations.
“Nuvotronics' PolyStrata technology will significantly enhance our protected communications business and position Cubic to address additional high-priority, dual-use technology markets in space, electronic warfare, hypersonic and 5G communications.” — Mike Twyman, president of Cubic Mission Solutions