Cubic Buys DTECH For Up To $114.5 Mln

(RTTNews) - Cubic Corp (CUB), a provider of military defense equipment and automated fare collection equipment, on Tuesday announced the acquisition of DTECH LABS Inc for up to $114.5 million, including $15 million of contingent consideration and subject to the terms of the stock purchase agreement. The deal is expected to be accretive to earnings beginning in fiscal 2016.

DTECH is a provider of modular networking and baseband communications equipment based in Sterling, Va. Cubic expects the deal to result in strong growth opportunities.

DTECH's ruggedized communications portfolio includes tactical and strategic networking products for portable, man-packable, vehicular and airborne applications. The company is an established supplier for Special Operations Command, the U.S. Marine Corps, and other government and commercial customers.