Iteris Inc. is an American company based in Austin, Texas that provides software, hardware and services for smart mobility infrastructure management, including software as a service, cloud-enabled managed services, consulting and advisory services, and sensors and other devices that record and predict traffic conditions. Iteris Inc. was established in 2004. The company from which it was formed, Odetics Inc., was originally founded in 1969, in Anaheim, California and incorporated in Delaware in 1987. Joe Bergera has served as the company's president and chief executive officer since 2015, and Iteris reported revenue of $156.1 million in fiscal year 2023, ending March 31.
History
The company from which Iteris Inc. was formed, Odetics Inc., was originally founded in 1969, in Anaheim, California, and incorporated in Delaware in 1987. It served as a business incubator for technology companies, and provided digital tape recorders to aerospace manufacturers. Odetics received an initial public offering in 1989. The company became known as simply Iteris in October 2004, through reverse merger.
The company acquired Meridian Environmental Technology Inc. (MET), which developed technologies related to traveler information and meteorology, during 2010–2011. Meridian continued to operate as a wholly owned subsidiary.
In 2011, Iteris acquired Berkeley Transportation Systems (BTS), a Northern California-based privately held company that analyzes transport networks and their effectiveness.
In July 2019, Iteris acquired Albeck Gerken, Inc., a privately held traffic operations engineering services provider headquartered in Tampa, Florida. Iteris was reportedly earning $68 million in annual revenue in 2015, and was added to the Russell 2000 Index on June 26, 2017. In May 2020, the company sold its agriculture and weather analytics business segment to DTN, an operating company of TBG AG. In mid 2023, Iteris reported revenue of $156.1 million for the previous fiscal year, ending March 31.
In December 2020, Iteris acquired TrafficCast International, Inc., a privately held, Wisconsin-based company that provides travel information services to commercial and public-sector providers.
Leadership
Joe Bergera has served as the company's president and chief executive officer (CEO) since 2015. Former CEOs include Jack Johnson, who served until 2007, and Abbas Mohaddes, who served from 2007 to 2015. Kevin Daly served as interim CEO between Mohaddes and Bergera, and maintained his longtime board position following the latter's hiring.
Products and services
Iteris provides hardware, software, and consulting services for smart mobility infrastructure management. Specific products include ClearGuide (software as a service for transportation analytics), VantageCare (a cloud-enabled managed service), and ClearMobility Cloud (an open-architecture cloud framework that facilitates access to Iteris’s other hardware and software). The company also produces sensors and other devices that record and predict traffic conditions, using proprietary data analysis software.
Traffic and transportation
According to Business Insider, Iteris is the "leading provider of outdoor vision systems and sensors that optimize the flow of traffic and enhance driver safety". The company uses digital image processing, information technology, and traffic engineering to provide safety and transportation solutions.
In 2000, the Virginia Department of Transportation (VDOT) implemented an advanced traveller information system developed as part of a public–private partnership between the agency and Iteris. The system was among the first in the United States to collect data by reading motorists' wireless signals. Iteris designed a crash avoidance system in 2000 to warn Mercedes-Benz Actros drivers if trucks drifted outside their lane without using a turn signal. The lane departure warning system was available on approximately 8,000 trucks in Europe and the United States by 2004, and offered on two cars, the 2005 Infiniti FX crossover and the 2006 Infiniti M. In 2004, Iteris and Valeo were reportedly collaborating on a camera-based vision system for heavy duty trucks using active pixel sensors and integrated signal processing.