August 17, 2010
Cubic Takes Over As London's Principal Provider of Ticketing Services
London, UK - August 17, 2010 - A major new milestone was passed today in the development of the Oystercard system in London when all Transport for London (TfL) ticketing operations were transferred to Cubic Transportation Systems Limited, a member of the Cubic Corporation family of companies.
This morning, the new back office system operated by Cubic on TfL’s behalf came into full operation. Thanks to the hard work of Cubic and TfL staff, the switchover was seamless and passengers this morning will not have been aware of the change.
The new contract – known as the Future Ticketing Agreement (FTA) – means Cubic will be the prime contractor for the provision of revenue services, ticketing, information, gates and electronics for transport ticketing and fare collection within the TfL system, which includes the London Underground, Overground, buses and river bus services.
Shashi Verma, Director of Fares and Ticketing at TfL, said, “We are pleased that these new arrangements are now fully in place with Cubic for the delivery of Oyster and other ticketing services until 2013. The new contract removes the complex PFI structure, which is no longer necessary, and creates a more streamlined structure which will bring increased value and service improvements benefiting travellers in London.”
Steve Shewmaker, President of Cubic Transportation Systems worldwide, said, “Oyster has revolutionised travel in London and has become one of the world’s leading smartcard tickets. The new contract will deliver increased value and service improvements for London public transport users which is critical at times like this when public sector spending is under review. We are looking forward to working with TfL to deliver a world-class electronic ticketing system in the lead-up to and beyond the London 2012 Olympic Games.
“As well as the ongoing management of Oyster, we are excited about the introduction of new technologies, which will give public transport users even more choice for their ticketing requirements and make using public transport in the capital even more convenient.”
Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems. Cubic Defense Systems is a leading provider of realistic combat training systems, cyber technologies, asset tracking solutions, and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services.
Cubic Transportation Systems is the world's leading solution provider of automated fare collection systems for public transport including bus, bus rapid transit, light rail, commuter rail, heavy rail, ferry and parking. Cubic's solutions and services include system design, central computer systems, equipment design and manufacturing, device-level software, integration, test, installation, warranty, maintenance, computer hosting services, call centre services, card management and distribution services, financial clearing and settlement, multi-application support and outsourcing services.
Every year, nearly 10 billion rides are taken worldwide using Cubic fare collection systems. Cubic has delivered over 400 projects in 40 major markets on five continents. Active projects include London; South East UK region; Frankfurt; Modena, Italy; southern Scandinavia; New York / New Jersey region; Washington, D.C. / Baltimore / Virginia region; Los Angeles region; San Diego region; San Francisco; Minneapolis/St. Paul; Chicago; Houston; Atlanta; South Florida; Vancouver and Edmonton, Canada; Sydney and Brisbane in Australia.
Oyster® is a registered trademark of Transport for London.