Cubic Completes ECC Acquisition.Business Editors SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. & ORLANDO, Fla.--(BUSINESS WIRE)--Oct. 13, 2003 San Diego-based Cubic Corporation (AMEX AMEX See: American Stock Exchange :CUB) and Orlando, Fla.-based ECC (1) (Error-Correcting Code) A type of memory that corrects errors on the fly. See ECC memory. (2) (Elliptic Curve Cryptography) A public key cryptography method that provides fast decryption and digital signature processing. International Corp. (AMEX:ECC) today announced that Cubic has acquired more than 90 percent ownership of ECC. Cubic also announced that the Subsequent Offering Period terminated at 5 p.m. (ET), Friday, Oct. 10, 2003. Cubic and ECC intend to file a Short Form Merger Agreement with the Delaware Secretary of State on Tuesday, Oct. 14, 2003. Thereafter, ECC shares will be delisted from trading on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and will be withdrawn from registration under the Securities Act of 1933. Remaining ECC shareholders will receive cash for their shares as provided in the Merger Agreement. About Cubic Corporation Cubic Corporation is parent to two major segments: defense and transportation. The Cubic Defense Applications group provides realistic combat training systems for military forces as well as simulation, force modernization, educational, operations and maintenance and manufacturing services. The group also supplies products and systems for Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance Intelligence, Surveillance and Reconnaissance may refer to:
C4ISR Command, Control, Communications, Computer, Intelligence, Surveillance and Reconnaissance C4ISR Command Control Communications Computers Intelligence Surveillance and Reconnaissance ) applications, search and rescue avionics, and radio communications for military and civil markets. The Cubic Transportation Systems group designs and manufactures automatic fare collection systems for public mass transit, including rail and buses, throughout the world. About ECC International ECC International Corp. is a world leader in the design, development and production of simulators and related training programs for crew, operator and maintainer training. ECC provides a wide range of products and services used by all branches of the U.S. Department of Defense and by armed forces in 25 other countries. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on management's beliefs and assumptions. |
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