Iteris Inc. in Santa Ana closed its $10.7 million acquisition of Tampa, Fla.-based Albeck Gergen Inc. Key principals of the Florida traffic engineering firm could earn another $2.3 million from incentives over the next three years.

Iteris (Nasdaq: ITI) makes software and sensors for transportation and agriculture industry applications and trades at about a $207 million market cap.

The company said additional acquisitions are possible.

For more Iteris news, see the July 1 print edition of the Business Journal.