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Cubic creates smart-card parking systems division

Cubic Transportation Systems Inc. is expanding its smart-card business to provide more options for public transportation customers.

Parent company Cubic Corp. has acquired the assets of Lexis Systems, a parking and public transportation revenue collection systems provider. Cubic acquired Lexis’ technology, product line, software suite, inventory and operations.

Cubic used the assets to form a new business unit — Cubic Parking Systems — which will expand the company’s regional smart-card system from public transit to parking.

The unit will provide a contactless smart-card payment system for on- and off-street parking that is integrated and interoperable with public transportation fare-collection systems. Passengers will be able to pay for parking with the same smart card they use to purchase public transit fares.

Contact Progressive Railroading editorial staff.

More News from 1/19/2005