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Cubic Acquires NextBus Inc. for $21M; Steve Shewmaker Comments

Cubic Transportation Systems (NYSE: CUB) has acquired NextBus Inc. from real-time passenger information systems company Webtech Wireless Inc. for a total of $21 million, subject to the terms of the purchase agreement.

“As part of the Cubic family, NextBus will have the additional resources and capabilities to expand more rapidly while adding further depth to our own Nextcity vision, which emphasizes better utilization of information, wireless communications and mobile devices as key technologies for the future of public transit, ” said Cubic president Steve Shewmaker.

According to a Cubic statement, NextBus offers a software-as-a-service solution that provides passengers with real-time arrival information of buses, subways and trains, and transit operators with a set of management and dispatch tools.

Its GPS-enabled mobile website for smartphones provides travelers the nearest stops in proximity order and real-time arrival information with multiple language capability.

NextBus’ customers include the major systems in Los Angeles, Toronto, San Francisco, Washington D.C. and Boston and universities and colleges like Chapel Hill Transit, RTC-Washoe, Saint Johns Transit, MIT, Georgia Tech, UCLA, University of Maryland and Rutgers University.

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