“GRIDSMART’S industry-leading video tracking solution at the intersection is a key addition to grow our intelligent traffic management portfolio to reduce congestion, said Bradley Feldmann, Cubic’s chairman, president and chief executive officer.

In an announcement late yesterday, Cubic Corporation said that it is acquiring the West Knoxville-based company “for approximately $87 million in cash, subject to customary adjustments.”

Cubic Corporation (NYSE: CUB) today announced the acquisition of GRIDSMART Technologies, Inc., a market-leading, technology-driven business with a differentiated video tracking offering in the Intelligent Traffic Systems (ITS) market, for approximately $87 million in cash, subject to customary adjustments.

Cubic Corp. said on Jan. 2 that it acquired Gridsmart Technologies Inc. for $87 million in cash. Cubic (NYSE: CUB) said the addition will expand its intelligent traffic management offering.

Cubic Corporation(NYSE: CUB) today announced the acquisition of GRIDSMART Technologies, Inc., a market-leading, technology-driven business with a differentiated video tracking offering in the Intelligent Traffic Systems (ITS) market, for approximately $87 million in cash, subject to customary adjustments.