Cubic to buy rest of Pixia

20 November 2019

US-based Cubic Corp., which bought 20% of imagery management software provider Pixia Corp. in June, announced on 20 November that it is buying the rest of the company.

Owning all of Pixia will enhance Cubic's ability to manage massive amounts of imagery from aircraft, satellites, and other sources, and provide that information in real time to troops on a battlefield, said Bradley Feldmann, Cubic's chairman, president, and CEO.

Cubic, which paid USD50 million to buy its initial stake, will shell out another USD200 million in cash to obtain the remaining stock.

Cubic, which is headquartered in San Diego, California, expects to close the transaction by February 2020.

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