Cubic Enters Investment Agreement with Delerrok to Expand Cloud-Based Offerings for Small and Mid-Sized Transit Operators

SAN DIEGO, Aug. 7, 2018 /PRNewswire/ -- Cubic Corporation (NYSE:CUB) today announced that its Cubic Transportation Systems (CTS) business division has entered an investment and alliance agreement with Delerrok, a leading provider of cloud-hosted electronic ticketing solutions for small- to mid-sized transit operators. Cubic will leverage Delerrok's TouchPass solution in combination with its Transit Management as a Service (TMaaS) platform to deliver a comprehensive payment and real-time information solution at an affordable price. 

Through this partnership, Cubic can offer Delerrok's TouchPass fare collection solution, giving transit agencies the choice in the ticketing technology they want to implement, including industry-leading account-based revenue management and mobile ticketing solutions. 

"As an industry leader in the delivery of innovative transport technologies to major metropolitan cities around the world, we look forward to expanding our service to small- and mid-market transportation customers with our strategic partnership," said Bradley H. Feldmann, chairman, president and chief executive officer of Cubic Corporation.

Over 70 percent of transit agencies in North America are still dependent on cash and paper-based fare products. Delerrok's TouchPass solution is designed to bring the benefits of electronic fare collection enjoyed by larger transit agencies to smaller agencies that are not able to provide the same technologies and conveniences to their customers through traditional solutions.

"This partnership brings together Cubic and Delerrok into a truly unique alliance that leverages Cubic's market leadership in fare collection and real-time information solutions combined with Delerrok's innovative, scalable technology," said Matt Cole, president of Cubic Transportation Systems.

Delerrok's software-as-a-service model combined with Cubic's TMaaS platform is ideally suited for agencies looking to offer their travelers electronic ticketing, real-time information and mobile experiences at an affordable price. The pay-as-you-go model eliminates complexity without sacrificing features or capability.

"We are excited to partner with Cubic to bring an all-in-one solution to our mid-market customer base where some of the toughest challenges in fare collection must be faced," said Bob Hamilton, chief executive officer of Delerrok. "Working together, we can empower smaller transit agencies to provide a modern, full-featured system to their passengers without the long software development cycle and high capital and operating costs that are associated with custom-built solutions."

About Cubic Corporation

Cubic Corporation designs, integrates and operates systems, products and services focused in the transportation, defense training and secure communications markets. Cubic Transportation Systems is a leading integrator of payment and information technology and services to create intelligent travel solutions for transportation authorities and operators. Cubic Global Defense Systems is a leading provider of live, virtual, constructive and game-based training solutions to the U.S. and allied forces. Cubic Mission Solutions provides networked Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) capabilities for defense, intelligence, security and commercial missions. For more information about Cubic, please visit the company's website at www.cubic.com or on Twitter @CubicCorp.

SOURCE Cubic Corporation

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