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RAIL EMPLOYMENT



Rail News Home M&A

9/3/2004



Rail News: M&A

Cubic acquires automated parking systems supplier


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Cubic Transportation Systems Inc. recently acquired Quebec, Canada-based Traf-Park Inc., an automated parking systems supplier.

The acquisition will broaden the automated fare-collection systems supplier’s products and services group, which will focus on leveraging smart-card technology with additional commuter service applications.

Traf-Park provides automated parking systems for mass transit systems, universities, hospitals, parking operators, museums, airports, hotels and exhibition centers.

"[The] acquisition … is consistent with our vision and strategy of expanding automated fare collection systems technology to commuter-oriented solutions that allow greater regional interoperability of smart card-based systems and increase the utility of transit patrons’ smart cards outside the transit system," said Cubic’s Vice President of Products and Services Jim Schleifer — who was named president of the new subsidiary — in a prepared statement.


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