Santa Ana-based Iteris Inc. (Nasdaq: ITI), which provides high-tech systems and sensors to improve traffic, said it has been awarded a $3.2 million-contract by the City of Baton Rouge for a smart mobility, safety and sustainability initiative.
According to mobility data collected by Texas A&M’s Urban Mobility Scorecard, Baton Rouge is one of the most congested mid-size urban areas in the country.
Under the terms of the contract, Iteris will upgrade over 200 key signalized intersections across hundreds of miles in Baton Rouge, representing almost 50% of signalized intersections in the city, to improve traffic flow, safety and sustainability.
Shares in Iteris were up 6.1% to $2.97 apiece for a market cap of $126 million today.
