Iteris to acquire Meridian Environmental Technologies

Iteris has signed a stock purchase agreement to acquire Meridian Environmental Technology, a privately-held company based in North Dakota.
January 26, 2012 Read time: 1 min

73 Iteris has signed a stock purchase agreement to acquire  605 Meridian Environmental Technology, a privately-held company based in North Dakota. MET is a leader in 511 advanced traveller information systems, as well as maintenance decision support system (MDSS) management tools that allow users to create solutions to meet roadway maintenance decision needs. The tool provides detailed and accurate information at the route level enabling the efficient maintenance of roads and highways while optimizing resource use and reducing costs.

“This acquisition commences a key element of our accelerated growth strategy targeting synergistic companies that enhance our IP,” said Abbas Mohaddes, president and CEO of Iteris. “In addition to an attractive customer base within weather and traveller information systems, MET provides Iteris with key capabilities in the emerging performance measurement and management market. With MET, our company is better equipped to empower travellers and traffic management authorities with more accurate and real-time information, and network performance management.”

Iteris will acquire all of the outstanding capital stock of MET for approximately US$4 million in cash, plus up to an additional $2 million under a 24-month earn-out provision.

Air Quality & Weather Systems

Related Content

  • September 18, 2014
    MDOT recognised for ITS technology leadership
    Two high-tech projects championed by the Michigan Department of Transportation (MDOT) have been recognised by the Intelligent Transportation Society of America (ITS America) with ITS America's Best of Intelligent Transportation Systems (ITS) Awards. MDOT earned an award in the Best New Innovative Practice-Partnership Deployment category for its automatic vehicle location (AVL) and maintenance decision support system (MDSS) project and was a finalist in another category, Best New Innovative Practice-Susta
    Read More
  • January 30, 2012
    IntelliDrive, connectivity, safety, mobility and the environment?
    Shelley Row, Director of the ITS Joint Program Office, US Department of Transportation, details the new five-year ITS Strategic Research Plan. Imagine a world where vehicles of all types can talk to each other in order to reduce or eliminate crashes, where vehicles can talk to traffic signals to eliminate unnecessary stops, where travellers can get accurate travel time information about all modes and route options, and where transportation managers have data which allows them to accurately assess multimodal
    Read More
  • December 14, 2015
    Kapsch TrafficCom to acquire Schneider Electric transportation business
    Kapsch TrafficCom has reached an agreement with Schneider Electric to acquire its global transportation business. Formerly operating as Telvent Tráfico y Transporte, the business offers an industry portfolio of integrated advanced traffic management software (ATMS) solutions for urban, highway and tunnel applications as well as tolling and transit solutions. This acquisition will enable Kapsch TrafficCom to offer its current and future customers around the globe an integrated portfolio of intelligent tr
    Read More
  • November 9, 2012
    US ushers in reforms with new transportation bill
    On behalf of ITS America, Paul Feenstra maps out implications and opportunities for the ITS industry. A critical milestone was reached last month when the US Congress passed, and President Obama signed, legislation reauthorising the nation’s surface transportation programmes, breaking a nearly three-year log-jam which had stymied critical transportation reforms and delayed much-needed infrastructure projects. The law, numbered P.L. 112-141 but known as MAP-21 (Moving Ahead for Progress in the 21st Century),
    Read More

Highlighted Content