.August 12, 2024 02:52:36 AM

Iteris, Inc. (NASDAQ:ITI) is set to merge with Almaviva S.p.A. in an all-cash deal valued at approximately $335 million, offering shareholders $7.20 per share, a 68% premium. The merger is expected to revolutionize intelligent transportation systems by combining Iteris’s AI-driven ClearMobility Platform with Almaviva’s digital innovation expertise. The deal is awaiting approval from Iteris shareholders and regulatory bodies, with the transition to a private entity set to conclude in 2024. Prestigious financial and legal advisors are guiding the merger process to ensure a smooth transition and market presence expansion in smart mobility infrastructure management.