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 23, 2014
    Idaho adds human dimension to winter savings
    Idaho leverages the increased capability and reliability of its road weather sensor network to reduce costs and prevent accidents. Weather-related accidents can form a significant chunk of an authorities’ annual road casualty statistics. While authorities cannot control the weather, the technology exists to monitor the road conditions and react with warnings to motorists and the treatment of icy or snow-covered roads. However, with all capital expenditure now placed under the microscope of public scrutiny,
    Read More
  • February 19, 2018
    Iteris to focus on smart cities
    Iteris will be at Intertraffic Amsterdam 2018 with a focus on smart cities. As the company points out, a smart city is fueled by data: Iteris is a provider of that necessary data to help improve mobility throughout communities and get any city on the road to becoming a smart city. Iteris will be highlighting its smart sensor detection and performance analytics. These provide government agencies and transportation stakeholders around the world with the necessary data to improve mobility
    Read More
  • August 1, 2012
    Developments in travel information display systems
    David Crawford looks at recent developments in travel information display systems. It is important to remember that we are investing in Real-Time Passenger Information [RTPI] to increase ridership," says Robert Burke, Managing Director of New Zealand transit tracking technology specialist Connexionz, which has been involved in at-stop and remote passenger information since 1995. "Superior information improves the perception of public transport reliability and gives the passenger more choices and greater con
    Read More
  • January 20, 2012
    Pioneering sensors collect weather data from moving vehicles
    ITS International contributing editor David Crawford foresees the vehicle as 'sentinel being'
    Read More

Highlighted Content