SOURCE: Cubic Corporation

Cubic Corporation

June 22, 2010 07:00 ET

Cubic Acquires Cyber Security Company

New Strategic Focus in the Important Cyber Market

SAN DIEGO, CA--(Marketwire - June 22, 2010) -  Cubic Defense Applications Inc., the defense systems unit of Cubic Corporation (NYSE: CUB), announced today that it has acquired Safe Harbor Holdings, Inc., a Vienna, Virginia-based supplier of customized hardware and software for cyber solutions.

Safe Harbor provides specialized cyber security and networking infrastructure solutions, including systems design, cross-domain product development and deployment, enterprise network architecture and engineering, access controls, and common cross-domain framework solutions comprised of multilevel controlled interfaces. The firm has approximately 30 cyber security engineers and professionals located in the Northern Virginia area and serving specialized intelligence and defense clients. 

"This acquisition launches Cubic's participation in the cyber security market and enhances our network security credentials in the intelligence community," stated Jeff C. Snyder, Vice President of Cyber Solutions for Cubic Defense Applications. "Safe Harbor's innovative solutions, important customer relationships, and outstanding professional staff will form the nucleus of our cyber delivery capability in the Washington, D.C. area." 

"We are looking forward to pursuing new business opportunities as part of Cubic," said Ken Bratchie, Safe Harbor President. "Cubic's proven systems integration capabilities and worldwide presence will accelerate the growth of our cross-domain XD products business."

"The Safe Harbor team is excited to become part of the Cubic family," said Keith Filzen, Safe Harbor Chief Technology Officer.

Acquisition of Safe Harbor Holdings is the first step in Cubic's strategic cyber initiative to expand the company's presence in the rapidly growing cyber security market.

Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems. Cubic Defense Systems is a leading provider of realistic combat training systems and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services. Cubic Transportation Systems is the world's leading provider of automated fare collection systems and services for public transit authorities. For more information about Cubic, see the company's Web site at www.cubic.com.