By Calvin Biesecker
Cubic Corp. [CUB] on Tuesday said it has acquired the assets of Impeva Labs Inc., giving it solutions in the global asset tracking markets.
Terms of the deal were not disclosed. Impeva, which filed for bankruptcy in April, was on the auction block.
“We intend to leverage the next-generation technology developed by Impeva to become the market leader in global tracking for the Department of Defense homeland security and commercial markets,” John Thomas, vice president of Finance and Corporate Development, said in a statement. Impeva will become a subsidiary of Cubic and be renamed Cubic Global Tracking Solutions.
Cubic already provides radio frequency identification solutions such as automated fare collections for mass transit systems in the United States and overseas.
Impeva is a subcontractor to ARINC Inc. to demonstrate a wireless communications capability that can track transportation assets in a logistics supply chain for the Army Logistics Innovation Agency. The Army in 2006 awarded the two companies a potential five-year, $20 million contract to develop and demonstrate wireless communications and automatic identification technology to help track DoD assets worldwide.
Last summer Impeva’s Global Sentinel asset tracking tags were used on selected intermodal containers to track cargo bound for United States troops in Afghanistan using a route through Russian territories. The company’s technology is also being used by DoD to track and monitor supply chains in the Middle East. The technology can communicate via satellite, mobile communications, and an encrypted radio frequency identification network.
Impeva also offers smart tags for dry and refrigerated containers and trucks, and a Device Management Center for real-time monitoring and event notification.
Impeva, which is based in California, has 35 employees. ARINC had been considered the front runner to acquire Impeva. In April, the two companies said that ARINC was providing a $1.2 million loan to keep Impeva operating. They also said that ARINC had been approved as the “stalking-horse” bidder with its $2 million offer plus the assumption of $818,923 in liabilities.