Cubic Corp. (CUB) Tuesday said it entered into deal to acquire Abraxas Corp., a Herndon, Virginia-based company that provides risk mitigation and subject matter and operational expertise for national security, law enforcement and homeland security clients.
The company stated that the all-cash transaction has a value of about $124 million and will be funded from Cubic's existing cash resources.
The acquisition is anticipated to close in December 2010, subject to finalization of required consents and regulatory approval.
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