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Cubic To Acquire Professional Services Provider Abraxas

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Cubic Corp. [CUB] yesterday said it has agreed to acquired Abraxas Corp., a provider of risk mitigation and subject matter expertise in the national security and cyber security arenas, for $124 million in cash. Cubic said that Abraxas has clients in the national security, homeland security and law enforcement sectors. The Northern Virginia-based company will operate as a subsidiary within Cubic's Mission Support Services segment and will continue to be led by Rodney Smith, president of Abraxas. "Abraxas will be…

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