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Iteris Closes $11M Acquisition

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.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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