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Cubic Corp. Hires Transportation Industry Veteran to Turn Around Its Troubled Fare-System Vendor

by Dan BalabanPosted on October 5, 2026 (October 5, 2026)Posted in Closed LoopTagged Cubic, Editor's Choice

Cubic Corp. has named a longtime transportation industry veteran, who served a stint as CEO of New York’s Metropolitan Transportation Authority, to head its troubled transportation unit, CTS. Elliot “Lee” Sander styles himself as a turnaround expert...

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Tip Sheet: Paris Transport Authority Expected to Procure ABT Back Office

by Dan BalabanPosted on July 29, 2026 (September 4, 2026)Posted in Closed LoopTagged Paris

Also, debt woes continue for Cubic Corp.; Netherlands still stands by end date for 20-year-old Mifare card. [...]

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Ex-Cubic President Torrellas Lands at Supply Chain Risk Management Company after Unsuccessful Three-Year Run at CTS

by Dan BalabanPosted on June 26, 2026 (August 4, 2026)Posted in Closed LoopTagged Cubic Transportation Systems

Peter Torrellas, whose nearly three-year stint as president of the industry’s largest fare-system vendor ended last week, was named CEO of U.S.-based supply-chain risk management software and services company apexanalytix. The company announced the...

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Montgomery-Torrellas Resigns as Cubic Transportation Systems President; Cubic Corp. CEO to Take Over as Interim Chief

by Dan BalabanPosted on May 27, 2026 (August 14, 2026)Posted in Closed LoopTagged Cubic, Editor's Choice

Cubic Transportation Systems president Peter Montgomery-Torrellas has resigned, saying he was leaving June 19 for a “new opportunity,” which he didn’t name. Steve Slijepcevic, chairman and CEO of CTS parent Cubic Corp. said he would assume the role of...

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Conduent Agrees to Sell Transit Fare Business to Modaxo, Retaining Its Road Tolling Unit

by Dan BalabanPosted on May 22, 2026 (October 1, 2026)Posted in Closed LoopTagged Conduent

U.S.-based Conduent has announced a deal to sell its public transit fare-system business for a low $164 million to Canada-based Modaxo Group, while keeping its tolling business. The deal, which is set to close before the end of the year, would give Modaxo by...

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Analysis: Cubic Takes Big Hit to Reputation in Losing Transport for London Contract, as Debt Woes Mount

by Dan BalabanPosted on February 3, 2026 (May 29, 2026)Posted in Open LoopTagged Editor's Choice, London

The recent loss by Cubic Transportation Systems of Transport of London’s coveted revenue-collection contract comes at a bad time for the U.S.-based fare-system vendor, as it faces pressure to win more profitable deals and help stem a serious cash burn by...

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Tip Sheet: Another Suitor Believed to have Emerged for Conduent’s Transportation Unit

by Dan BalabanPosted on December 19, 2025 (February 10, 2026)Posted in Closed LoopTagged Conduent

Another Suitor Believed to have Emerged for Conduent’s Transportation Unit; also: More Layoffs Expected for Cubic. [...]

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Tip Sheet: Layoffs at Cubic–Vendor Says It Amounts to Only 2% of Workforce but Won’t Release Figures; Insiders Say Cuts Taking Toll on Engineers, Others

by Dan BalabanPosted on November 14, 2025 (September 4, 2026)Posted in Closed LoopTagged Editor's Choice

U.S.-based Cubic Transportation Systems has yet to release a total for the number of employees it plans to lay off, but Mobility Payments is hearing it could be 15% or more across certain job categories, such as engineers, architects and project managers...

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Ratings Agency Warns of ‘Onerous Debt Burden’ for Cubic, but Says Vendor’s Transit Clients Shouldn’t Worry

by Dan BalabanPosted on February 17, 2025 (April 28, 2025)Posted in Closed LoopTagged Cubic

S&P Global, a major ratings agency, has downgraded Cubic Corp.’s credit rating to CCC+ from an already low B-, warning of an "onerous debt burden" for the company that includes Cubic Transportation Systems. The primary analyst for the ratings change told...

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Cubic Hires Former Vix Chief as Head of Business Development, Replacing ‘Turnaround Expert’ in Post

by Dan BalabanPosted on June 11, 2024 (August 31, 2024)Posted in Closed LoopTagged Cubic

Cubic Transportation Systems has replaced its head of business development–and turnaround expert–Rich Varos with fare-industry veteran and former head of Vix Technology David Maitland, Mobility Payments has learned. The move, coming after Varos was in...

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Cubic Corp. Hires Transportation Industry Veteran to Turn Around Its Troubled Fare-System Vendor

Tip Sheet: Paris Transport Authority Expected to Procure ABT Back Office

Ex-Cubic President Torrellas Lands at Supply Chain Risk Management Company after Unsuccessful Three-Year Run at CTS

Montgomery-Torrellas Resigns as Cubic Transportation Systems President; Cubic Corp. CEO to Take Over as Interim Chief

Conduent Agrees to Sell Transit Fare Business to Modaxo, Retaining Its Road Tolling Unit

Analysis: Cubic Takes Big Hit to Reputation in Losing Transport for London Contract, as Debt Woes Mount

Tip Sheet: Another Suitor Believed to have Emerged for Conduent’s Transportation Unit

Tip Sheet: Layoffs at Cubic–Vendor Says It Amounts to Only 2% of Workforce but Won’t Release Figures; Insiders Say Cuts Taking Toll on Engineers, Others

Ratings Agency Warns of ‘Onerous Debt Burden’ for Cubic, but Says Vendor’s Transit Clients Shouldn’t Worry

Cubic Hires Former Vix Chief as Head of Business Development, Replacing ‘Turnaround Expert’ in Post

Cubic Corp. Hires Transportation Industry Veteran to Turn Around Its Troubled Fare-System Vendor

Modaxo Completes Acquisition of Conduent Transit Unit; Renames Fare Business ‘Novvan’

Cubic and Moovel Intend to Protest Recommendation in Miami for $42 Million Contract Award to Masabi

U.S. Federal Rules Surface Again as Issue for Transit Agencies Outside California Buying Open-Loop Technology through Cal-ITP

U.S. Transit Agency Aims to Go Cashless and also Launch Open Loop; Plans to Surcharge Riders to Cover Bank Card Fees

Cubic Corp. Hires Transportation Industry Veteran to Turn Around Its Troubled Fare-System Vendor

Cubic and Moovel Intend to Protest Recommendation in Miami for $42 Million Contract Award to Masabi

Barcelona Transport Authority Sets Date for Launch of Open-Loop Payments…Again; Can It Make It This Time?

Miami-Dade County Recommends Masabi for Back Office Deal; If Approved by Board, Debt-Strapped Cubic Would Lose Another Contract as Incumbent

Open Loop Worked ‘Flawlessly’ during World Cup, but Seattle Fare Official Says No Plans to Try to Move Regular Riders to Credit and Debit Cards