Cubic Corporation

Cubic Corporation is an American multinational defense and public transportation equipment manufacturer. It operates two business segments: Cubic Transportation Systems (CTS) and Cubic Mission and Performance Solutions (CMPS).
Cubic Corporation was founded in 1949 by Walter J. Zable as an electronics company in San Diego, California, and began operations in 1951. Zable devised the company name as he wanted the name to reflect both engineering and precision. Its first product was a calorimetric wattmeter, a device used for measuring microwave output. It became a publicly-traded company in 1959.
In 1969, the company acquired United States Elevator Corporation, a maker of freight and passenger elevators.
In early September 1984, Cubic moved its corporate domicile into Delaware General Corporation Law. The move was completed on June 11, 1985.
Cubic employs 6,200 people globally. Stevan Slijepcevic was named president and chief executive officer of Cubic Corporation in January 2022.
In May 2021, Cubic announced the completion of its sale to the private equity firms Veritas Capital and Elliott Management, turning the publicly traded New York Stock Exchange company into a privately held company.
In June 2023 Cubic wrote a letter to the Australian Victorian state premier, requesting a review of the tender process which awarded the state upgrade of its Myki system to its competitor Conduent. In its letter Cubic claimed its submitted bid was $100,000 less than the winning a bid (a 0.005% difference in the overall $1.7 billion cost of the winning bid over 15 years), and that procurement officers from the state government had not visited its operational sites. Cubic preferences to install its own ticket readers was reported as a reason to consider its bid more expensive.
On 4 March 2025, the People's Republic of China announced sanctions on 10 U.S. military-industrial companies, including Cubic, for participating in arms sales to Taiwan.
Cubic's operating segments include:
Cubic Transportation Systems provides the following products and services:
Cubic Transportation Systems has delivered over 400 projects in 40 markets on five continents. Cubic first implemented mobile ticketing technology in 2006 and produces multiple mobile fare collection options, including mobile ticketing through barcoding, NFC tools, contact and contactless smartcard payments, and traditional automated fare collection systems. The Umo Mobility Platform was launched in January 2021. Cubic Transportation Systems manages around 70% of the global market for smart transit cards. Cubic processes more than 24 billion transactions a year.
In 2017, Cubic was chosen to implement the AFC 2.0 project by the Massachusetts Bay Transportation Authority (MBTA) to update the MBTA's fare collection systems. This project was budgeted for $723 million, with a planned completion date of May 2021. As of May 2021, the cost of the project (now called "Fare Transformation") had risen to $935 million, with an updated completion date of 2024. In February 2023, the MBTA announced that it considered the project "unlikely to meet the current 2024 timeline for full implementation".
On October 21, 2022, it was announced that NZ Transport Agency Waka Kotahi had signed a contract with Cubic for the development of their National Ticketing Solution named Motu Move. The National Ticketing Solution will allow the use of a single fare card on public transport across the whole of New Zealand.