Cubic Corporation (NYSE: CUB) announced today it has entered into an agreement to acquire XIO Strategies, Inc., a recognized leader in supply chain management and automatic identification technology deployment, to enhance the company's expertise and market position in Department of Defense (DoD) and commercial logistics management, consulting and RFID technology domains.
Mary Ann Wagner, the founder, former President and CEO of XIO Strategies, will become President of Cubic Global Tracking Solutions (Cubic GTS), and will lead the combined entity from the new company headquarters in Vienna, Virginia. Relocating the Cubic GTS headquarters to the Washington, D.C. metro area will enhance the company's ability to service its DoD and commercial customers.
"We are pleased to announce this acquisition and to appoint Mary Ann as the leader of this growing business," stated Brad Feldmann, President of Cubic Defense Applications. "She has more than 25 years of experience in global logistics and supply chain management, strategic planning, policy development, and has held executive and sales management positions at Stanley Works and FedEx."
"I am thrilled to accept this new opportunity and look forward to capitalizing on Cubic's innovative and industry-leading global tracking and mesh technologies," said Wagner.
Cubic GTS was formed after the acquisition of Impeva Labs in May 2010 to accelerate Cubic's entry into defense, homeland security, and maritime logistics markets. Cubic's unique global tracking technology is deploying with the U.S. Department of Defense in the Middle East and Southwest Asia and relies on an innovative combination of satellite, GSM mobile communications, and an encrypted RFID mesh network to provide 24 x 7 worldwide coverage. Additionally, the company supplies smart devices for dry containers, refrigerated containers and trucks, and rail applications that use a Device Management Center to provide continuous, reliable, real-time monitoring and event notification - without requiring fixed infrastructure or proprietary technology.
Cubic Corporation is the parent company of three major business segments: defense systems, mission support services, and transportation. Cubic Defense Applications, a leading supplier of combat training systems, communications, cyber technologies, and global tracking solutions. Cubic Mission Support Services is a leading provider of training, operations, maintenance, and technical support services. Cubic Transportation Systems is the world's leading provider of automated fare collection systems and services for public transit authorities. For more information about Cubic, see the company's Web site at www.cubic.com.