Parking Acquisition Brings the Pieces Together — Transit, Off-Street Parking and On-Street Parking

Cubic has acquired the assets of Lexis Systems, a Vancouver-based provider of revenue collection systems for parking and public transportation. The acquisition includes intellectual property, technology, the complete product line and software suite, inventory and the Vancouver-based operations.

The assets from Lexis Systems, together with the recently acquired Traf-Park, comprise a new business unit for Cubic Transportation Systems, called Cubic Parking Systems. Cubic’s expansion into parking — a vital service in major metropolitan areas — is an investment to enhance Cubic’s regional smart card systems based in public transportation.

Cubic Parking Systems is the only company to offer an integrated contactless smart card payment system for on-street and off-street parking, both barriered and unbarriered lots, that is also interoperable with public transit fare collection systems. Commuters can pay for parking their vehicles with the same smart card they use to pay for fares on public transportation.

With the combined installed customer base of Lexis and Traf-Park, Cubic Parking Systems has a substantial share of the parking market, with nearly 3000 pieces of equipment installed for over 200 customers in the United States, Canada and Mexico.

Customers include major parking operators, national park systems, universities and colleges, hospitals, city and county projects, major ski resorts, boat marinas and large city transit programs.

Nearly 1200 Lexis Pay Stations are installed throughout North America in key cities including Vancouver, Seattle, San Francisco, Los Angeles, Santa Monica, San Diego, Denver, Dallas, Chicago, St. Louis, Minneapolis, Cleveland, Cincinnati, Columbus, Pittsburgh, Baltimore, Washington, D.C., and Atlanta. Cubic has smart card automated fare collection systems in many of these cities and good opportunities in others. Parking is a factor in all of them. Integration with the mass transit ticketing system is a natural step.

In fact, earlier this year when the Washington Metropolitan Transit Authority (WMATA) decided to use its SmarTrip® smart card system for all of its parking, it chose Lexis to provide the equipment.

Parking operators share this same vision for interoperability with transit. Central Parking Corporation, a $1.3 billion NYSE company, operates Lexis machines in over 500 locations. Cubic Parking Systems will continue to support Central Parking as a supplier and systems integrator under a 5-year service contract. “As the world’s largest operator of parking services, we are very excited about the opportunities this opens up for us to provide services that are interoperable with regional smart card programs,” said Emanuel Eads, President and Chief Operating Officer of Central Parking Corporation.

Cubic Parking Systems is headquartered in Vancouver and has regional offices in Montreal, Toronto, Nashville and San Diego.