Rockwell Automation Announces Intent to Acquire CUBIC
October 3, 2022
Rockwell Automation, Inc. has recently announced that it has signed a definitive agreement to acquire CUBIC, a company that specializes in modular systems for the construction of electrical panels. CUBIC, founded in 1973, serves fast-growing industries, such as renewable energy, data centers, and infrastructure, and is headquartered in Bronderslev, Denmark.
CUBIC’s efficient and flexible modular systems combined with Rockwell’s intelligent devices and industry expertise will benefit customers by offering faster time to market, enabling broader plant-wide applications for intelligent motor control, and generating smart data to increase sustainability and productivity.
CUBIC’s established partner model will allow Rockwell to build an expanded Partner Network for intelligent motor control offerings in Asia, Europe, and Latin America. The company will bring new customers and partners in hybrid and process industries. Additionally, CUBIC will broaden Rockwell’s market access in renewable energy and data center solutions.
“CUBIC’s innovative motor control solutions strengthen our portfolio of leading intelligent motor control technologies,” said Bob Buttermore, vice president and general manager of Rockwell’s Power Control Business. “We are pleased to welcome a talented team with specialized expertise in structural design, power systems, and global standards.”
“Joining Rockwell will enable us to expand our relationships and accelerate our global growth,” said Jacob Moller Knudsen, CEO of CUBIC. “This is a perfect match that will allow us to offer our customers the best solutions going forward.”
At close, CUBIC will report to Rockwell’s Power Control Business in the Intelligent Devices operating segment.
CUBIC is expected to report more than $75 million in sales in fiscal year 2022, which ended Sept. 30. The transaction is subject to customary regulatory approval and is expected to close by the end of 2022.
