DURHAM — Cubic, a San Diego-based integrated systems provider has acquired Nuvotronics, a Durham-based producer of micro fabricated radio frequency products, for $64 million.
Nuvotronics produces radio frequency equipment. Its cornerstone PolyStrata technology, developed in association with DARPA, enables Nuvotronics to produce uniquely packaged products such as antennas, filters and combiners, all of which use components manufactured by Cubic Corp., which is acquiring the company.
The company launched in Virginia in 2008.
Cubic specializes in integrated solutions in the transportation, defense and signal intelligence markets. Cubic works with military and security contractors to provide training systems solutions for air, ground and maritime applications.
With this acquisition of Nuvotronics, Cubic hopes to expand its communications portfolio incentives, while securing significant supply chain synergies, which are expected to enhance earnings beginning fiscal year 2020.
“Cubic provides integrated mission solutions to solve our customers’ most challenging problems. 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,” said Bradley Feldmann, CEO of Cubic, in a statement.
The purchase price could include additional earn-out payments of up to $8 million based on Nuvotronics’ future performance.
Cubic lists on the Nasdaq under the ticker: CUB.
The deal was announced last week.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism