Santa Ana-based Iteris Inc. (Nasdaq: ITI), which provides high-tech systems and sensors to improve traffic flow, has been awarded a new contract by the Virginia Department of Transportation for smart mobility, safety and sustainability programs.
The deal begins its initial phase of a multi-year contract with an $11.4 million order and the eventual total contract value is expected to exceed $20 million, Iteris said in a statement.
Iteris said it will deliver services including an extensive data portal, real-time traveler information, weather data, and continued operations and maintenance of video and data distribution services.
Shares in Iteris rose almost 1% to $2.84 apiece for a market cap of $121 million today.
