Oxnard Greenlights $1.7M Contract for IterisThursday, May 17, 2012
Santa Ana-based Iteris Inc., which makes traffic-management sensors and other gear, was awarded a $1.4 million contract from the city of Oxnard to integrate a smart transportation system.
The deal could hit $1.7 million if all options are exercised. Work on the project is expected to begin immediately.
Under the contract, Iteris is responsible for procuring and integrating 140 of the city’s signaled intersections and select buildings, designing a traffic management center and carrying out system tests.
Iteris has been contracted by Oxnard for the last six years and has developed and designed the city’s intelligent transportation system master plan. The latest contract calls for integrating it.
The Oxnard deal comes on the heels of a $12.1 million contract it signed last month with the Research and Innovative Technology Administration to enhance the National Intelligent Transportation Systems Architecture Evolution and Support Program.
The two-year deal with the federal government includes three, one-year options.
Under the contract, Iteris will lead a team from Lockheed Martin Corp., Consystec Corp. and Ice & Associates, among others, to further develop and deploy a connected vehicle and transportation system.
Publicly traded Iteris sees annual sales of about $60 million. It had a recent market value of about $45 million.