Cubic Completes Acquisition of Intific

Cubic Corporation announced today that it has completed the acquisition of Intific, Inc., an Austin, Texas-based advanced technology company focused on software and game-based solutions in modeling and simulation, training and education, cyber warfare, and neuroscience. Intific will become part of the Cubic Defense Systems segment which is a market leader in innovative live, virtual, and game-based training solutions. Intific completed 2013 with approximately $14 million in revenue and employs 80 personnel primarily located in Austin, Texas and Alexandria, Va. 

The acquisition enables Cubic to broaden its presence in a variety of adjacent businesses in the cyber security, next generation defense technologies including game based learning solutions, and transportation related training applications. Intific brings a wide range of expertise to Cubic including computer simulation, animation, human-machine interaction, robotics, neuroscience, visualization, gaming, and artificial intelligence. Intific’s core software and gaming competencies are aimed at the creation of simulations for planning, operation rehearsal, location familiarization, and decision making. They have a long history of successfully delivering leading edge technology oriented projects for customers which include the U.S. Defense Advanced Research Projects Agency (DARPA), Volpe National Transportation Systems Center, and the Air Force Research Laboratory (AFRL). Recently, Intific was awarded the Foundational Cyberwarfare (Plan X) project by DARPA to develop platforms for the Department of Defense to plan for, conduct, and assess cyberwarfare in a manner similar to kinetic warfare.
“We plan to harness the creative energy of Intific’s workforce and to combine their considerable portfolio of leading edge capabilities and solutions with our market footprint and product mix. Bringing together our respective companies will allow us to continue to be thought leaders in our core market and deliver leading edge innovative solutions for our customers.” said Dave Schmitz, president of Cubic Defense Systems.

“We were looking for a partner that values innovation, advanced technologies, and one that can broaden our customer footprint in the US and abroad,” said Pete Bonanni, president of Intific. “The Intific team will enhance Cubic’s solutions for markets in defense, cyber, and transportation worldwide.”

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“Intific is well aligned with our strategic imperatives of broadening our advanced research capabilities and expanding our reach into game based learning and the cyber domain. We believe that Intific’s technology and capabilities can address some of the unique requirements that exist across all of Cubic’s businesses. They are a great addition to the Cubic family.” said William W. Boyle, chief executive officer of Cubic Corporation.

Source: Cubic Corporation (NYSE: CUB)
Date: Mar 3, 2014