Cubic Selected to Provide Queensland's New Ticketing System

SAN DIEGO, June 20, 2018 /PRNewswire/ -- Cubic Corporation (NYSE: CUB) today announced its Cubic Transportation Systems (CTS) business division has been selected by the Queensland Department of Transport & Main Roads (DTMR) to provide a new ticketing system for the state.  

Cubic has been awarded the contract, worth approximately $276 million (AU$371 million), to design, build and operate the new ticketing system as part of Queensland's investment in ticketing.

Cubic will be responsible for upgrading the current system to incorporate some of the world's most advanced ticketing technologies including contactless payment and next-generation real-time passenger information. Operation and maintenance of the system are also included in the agreement. The new system will enable Queensland commuters to use bankcards, mobile phones and personal electronic devices including watches to pay for travel on public transport.

"This is an exciting partnership that would provide Queenslanders with one of the most advanced, flexible and secure public transport payment systems in the world," said Mark Bailey, Queensland's Minister for Transport and Main Roads. "This payment solution will bring more convenience and freedom of choice for commuters. We're delighted that proven technology already used across London, Chicago and Vancouver will be further enhanced for the benefit of Queensland commuters."

"The Queensland contract award is a testament to Cubic's commitment in revolutionizing fare payment systems," said Bradley H. Feldmann, chairman, president and chief executive officer, Cubic Corporation. "We look forward to leveraging our world-class technologies to deliver a system that will improve travelers' daily commutes."

"This new ticketing system to be installed by Cubic will provide Queensland commuters with more options and greater payment flexibility in how to pay their fares," said Matt Cole, president, Cubic Transportation Systems. "Riders want speed, convenience and a more efficient travel experience. The new ticketing system will deliver just that."

"Cubic is delighted to have been selected for this landmark project," said Tom Walker, senior vice president and managing director of CTS Asia-Pacific. "This cements the very strong partnership between Cubic and DTMR that has been established since we were originally awarded the go card contract in 2003."

Cubic based its Queensland bid on the company's strong credentials in proven technology and experience in designing, installing and operating projects, as well as its financial strength and depth of resources.

The company's expertise in advanced ticketing and payment technologies has been demonstrated in recent months with new contract wins for the installation of new systems in New York and Boston.

About Cubic Corporation

Cubic is a market-leading, technology provider of integrated solutions that increase situational understanding for transportation, defense C4ISR and training customers worldwide to decrease urban congestion and improve the militaries' effectiveness and operational readiness. 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 Mission Solutions provides networked Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) capabilities for defense, intelligence, security and commercial missions. Cubic Global Defense Systems is a leading provider of live, virtual, constructive and game-based training solutions for the U.S. and allied forces. For more information about Cubic, please visit the company's website at www.cubic.com or on Twitter @CubicCorp. 

SOURCE Cubic Corporation