Cubic Eyes Protected Comms Portfolio Expansion With Nuvotronics Buy; Mike Twyman Quoted

Mike Twyman

Cubic (NYSE: CUB) has purchased microfabricated radio frequency systems provider Nuvotronics for approximately $64M in cash as part of efforts to expand its portfolio of protected communications technology offerings.

Durham, N.C.-based Nuvotronics designs and builds antennas, combiners, filters and other RF devices using the PolyStrata technology developed by the company with the Defense Advanced Research Projects Agency, Cubic said Thursday.

“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,” said Mike Twyman, president of Cubic Mission Solutions.

Cubic used its existing credit facility to fund the acquisition, which includes up to $8M in potential earn-out payments based on future performance and is expected to be accretive to the company’s cash earnings per share by the second year of operations.

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