Cubic Corporation is to acquire Nuvotronics, Inc., a disruptive technology provider of microfabricated RF products. The acquisition price is approx. $64 million in cash, financed from the corporation’s existing credit facilities, with additional earn-out payments of up to $8 million, based on future performance, according to a Cubic announcement on 14 March.
Nuvotronics has developed strong relationships across government agencies and defence primes, as well as the commercial sector, delivering uniquely packaged RF devices such as antennae, filters and combiners – all of which are components featuring in Cubic’s advanced technology product offerings. The cornerstone of the Durham, NC-based company’s innovation platform is its patented PolyStrata technology, which was developed with US Defense Advanced Research Projects Agency (DARPA) support.
With the acquisition of Nuvotronics, Cubic expects to accelerate multiple innovation initiatives across its protected communications portfolio and beyond, and to capture significant supply chain synergies.
“Nuvotronics’ high-performance, reduced size, weight and power (SWaP) capability further strengthens Cubic’s offering in our high-growth, high-margin Cubic Mission Solutions business,” observed Cubic’s Chairman, President and CEO, Bradley Feldmann. “We [….] look forward to integrating their unique technologies, which are highly synergistic with our existing product lines.”
“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, hypersonics and 5G communications,” added Cubic Mission Solutions President, Mike Twyman.