January is turning out to be a month of corporate acquisitions. First Avis purchased ZipCar and caused ripples throughout the car-sharing community. And now Cubic Transportation Systems, perhaps best known for its transit payment systems, has acquired NextBus, Inc.
NextBus provides real-time information for more than 100 transit properties in the U.S. and Canada. The company was recently in the news because of a dispute associated with the data feed for the NextBus DC mobile application.
“Transit agencies and their communities worldwide are racing to utilize information more effectively – optimizing their resources and providing intelligent travel information to their riders,” said Steve Shewmaker, president of Cubic Transportation Systems. “As part of the Cubic family, NextBus will have the additional resources and capabilities to expand more rapidly while adding further depth to our own Nextcity vision, which emphasizes better utilization of information, wireless communications, and mobile devices as key technologies for the future of public transit.”
Cubic purchased NextBus from Webtech Wireless, Inc., for $20.75 million CAD.
Photo credit: Susan Mara Bregman