Cubic Telecom were not acquired. It would have been big news here in Ireland if they had been. You can see from the founder's blog that they actually just partnered with Global Roaming: http://patphelan.net/cubic-telecom-and-global-roaming-allign...

If anything, it seems like they have completely lost focus on their original, supposedly revolutionary offering and instead fallen back on roaming SIM cards (not so exciting).

Their Crunchbase profile incorrectly states they were acquired (how convenient) and the ostensible acquisition value is oddly similar to the total amount of capital they've raised: http://www.crunchbase.com/company/cubictelecom