Iteris, Inc., a global leader in smart mobility infrastructure management, announced today a definitive agreement to be acquired by Almaviva S.p.A., a leading Italian digital innovation group, in an all-cash transaction valued at approximately $335 million.
This strategic move marks a significant milestone for Iteris, solidifying its position at the forefront of intelligent transportation solutions. The company’s AI-powered ClearMobility Platform has become a trusted tool for over 10,000 public agencies and private-sector enterprises worldwide. ClearMobility empowers users to monitor, visualize, and optimize their mobility infrastructure, ensuring a safer, more efficient, and sustainable transportation landscape.
A Testament to Innovation and Dedication
Joe Bergera, President and CEO of Iteris, expressed his enthusiasm for the partnership. “This announcement marks an exciting next chapter for Iteris and all of our stakeholders,” he said. “For over 15 years, Iteris has been a pioneer and leader in intelligent transportation systems. The agreement with Almaviva is a testament to the grit, determination, and innovative spirit of our entire team.”
Shared Vision for the Future of Mobility
Almaviva’s global reach and expertise in digital transformation align perfectly with Iteris’ vision for the future. “Almaviva shares our vision for the future of digital mobility and our commitment to excellence,” Bergera continued. “With this transaction, our team will be strongly positioned to continue to innovate and expand the global adoption of our ClearMobility Platform.”
A Promising Future for Smart Mobility Solutions
The acquisition of Iteris by Almaviva signifies the growing importance of smart mobility solutions. As cities around the world grapple with increasing traffic congestion and environmental concerns, intelligent transportation systems offer a powerful path towards a more sustainable and efficient future. Iteris’ proven track record and cutting-edge technology, coupled with Almaviva’s expansive network and resources, position the combined entity to become a dominant force in shaping the future of mobility.
Forward-Looking Vision
This acquisition is a win not only for Iteris and Almaviva, but also for the transportation industry as a whole. By uniting their strengths, these two innovative companies are poised to accelerate the development and adoption of smart mobility solutions, paving the way for a safer, greener, and more connected transportation network.
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