The Italian multimodal transport technology company Almaviva has bought US roadside software and hardware company Iteris for US$335 million (approx £260 million)
Almaviva specialises in digital technology across a range of sectors – including transport, plus financial services, healthcare, manufacturing and telecommunications across Europe, the Americas, North Africa and the Middle East.
In the UK, Almaviva has already implemented two projects aiming to streamline the delivery of on-board solutions for train fleets through its proprietary platform for sustainable mobility, MOOVA, helping to manage services, operations and assets in a single integrated environment.
It says the acquisition of Iteris, a company providing a comprehensive range of mobility infrastructure management solutions, will enable Almaviva to export the MOOVA platform to the US, “further enhancing its position in the global transportation landscape and strengthening its R&D activities for the improvement of its technology and product offering”.
“This acquisition reflects Almaviva Group’s ongoing strategy to strengthen its presence in high-growth, technology-driven markets,” stated Marco Tripi, CEO of Almaviva Group. “This new strategic move enhances our international standing, particularly in the sustainable mobility sector. Almaviva is already leading significant mobility projects across the Middle East, the UK, various European countries, the Americas, and North Africa. We are proud to be the only Italian tech company pursuing a truly global industrial strategy, with a strong focus on expanding our footprint in the United States.”
Iteris offers software, digital platforms, and professional consulting services. Founded in 1969 in California, the company is headquartered in Austin, Texas, and has approximately 425 employees with an annual revenue of $180 million. Iteris’s solutions are used by public transit agencies, municipalities, commercial entities, and other transport infrastructure providers to monitor, manage, and optimise mobility systems, making them safer, more efficient, and sustainable. With a comprehensive range of mobility infrastructure management solutions, Iteris serves clients across the U.S. and internationally.
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