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Top Cubic Executives Complain of ‘Serious Concerns’ about Tender Process in Selection of Rival Conduent in Australia: Reports

by Dan BalabanPosted on Posted in Open LoopTagged ,
Bus in Melbourne
U.S.-based Cubic Corp. sent a letter of complaint to the premier of the Australian state of Victoria in Melbourne, contending that a flawed procurement process led to the selection of rival vendor Conduent for a 15-year, AU$1.7 billion (US$1.1 billion),...

Conduent to Part with Its Transportation Business Unit, Including Fare Collection

by Dan BalabanPosted on Posted in Closed LoopTagged
Opus Card at terminal
U.S.-based Conduent, a business services outsourcing company, said it would sell or spin off its transportation business unit, a major automated fare-collection system supplier globally. [...]

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Victoria Transport Minister Announces Plans for Launch of Open-Loop Payments Next Year, but Government is Light on Specifics

by Dan BalabanPosted on Posted in Open LoopTagged
he Victoria state government in Australia has announced plans to launch open-loop payments by early next year, though has released few specifics, which has raised some skepticism among observers. Gabrielle Williams, Victoria state minister for public and...
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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 Posted in Closed LoopTagged
OMNY gates
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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Abu Dhabi Procuring Account-Based Ticketing System; Process May Have Reached New Stage

by Dan BalabanPosted on Posted in Closed LoopTagged ,
One or more short-listed vendors for Abu Dhabi’s planned fare system are believed to have made their pitches to the Integrated Transport Centre in recent days and weeks, Mobility Payments has learned. The transport agency, which is releasing few details...
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Tip Sheet: Cubic Contract Award Back on Agenda for SEPTA Board Meeting in Philadelphia

by Dan BalabanPosted on Posted in Closed LoopTagged ,
The proposed award of a $211 million fare-system contract for Cubic Transportation Systems is back on the agenda for a board meeting of Philadelphia transit agency SEPTA scheduled for next week, where the award is expected to gain approval. As Mobility...
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