Cubic
Corporation CUB has acquired from NEK Advanced Securities Group, Inc.
the operating assets of its NEK Special Programs Group, LLC subsidiary, their
Special Operation Forces training business based in Fayetteville, NC and
Colorado Springs, Colo. The all-cash transaction closed on December 14, 2012
with a total consideration of $52 million subject to the terms of the purchase
agreement.
The assets are being acquired by NEK Services, Inc., a wholly owned subsidiary
of Cubic Corporation, and will operate under the leadership of Jim Balentine,
President of Cubic Mission Support Services. The more than 200 highly skilled
and experienced operational and technical experts of NEK's Special Operations
Forces training business will become employees of Cubic and significantly
expand the company's current knowledge base in advanced tactical training,
surveillance /counter surveillance, mission planning, and personnel recovery.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in