{"id":452542,"date":"2021-03-08T08:08:14","date_gmt":"2021-03-08T13:08:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=452542"},"modified":"2021-03-08T08:08:14","modified_gmt":"2021-03-08T13:08:14","slug":"iteris-initiates-review-of-strategic-alternatives","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iteris-initiates-review-of-strategic-alternatives\/","title":{"rendered":"Iteris Initiates Review of Strategic Alternatives"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Iteris Initiates Review of Strategic Alternatives<\/b><\/p>\n<p class=\"bwalignc\"><b><i>Board has Engaged Moelis &amp; Company as Financial Advisor to Assist in its Review<\/i><\/b><\/p>\n<p>SANTA ANA, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nIteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value.\n<\/p>\n<p>\n\u201cGiven Iteris participates in a large and dynamic market with multiple opportunities, the Iteris Board of Directors has decided to initiate a comprehensive review of strategic alternatives to maximize shareholder value,\u201d said Tom Thomas, Chairman of the Board of Iteris. \u201cTo assist in this strategic review, Iteris has retained Moelis &amp; Company as its financial advisor to review the Company\u2019s strategy and propose potential, additional opportunities to enhance our value and market position.\u201d\n<\/p>\n<p>\nJoe Bergera, President and CEO of Iteris added, \u201cOver just the past two years, we have rationalized Iteris\u2019 product portfolio, optimized the Company\u2019s capital structure, and improved our operations. This strategic review will ensure we continue to have the right strategy to deliver both the best solutions for our customers and the strongest returns for our shareholders.\u201d\n<\/p>\n<p>\nNo assurances can be given regarding the outcome or timing of the review process. Iteris does not intend to make any further public comment regarding the review until it has been completed or the Company determines that disclosure is required or beneficial.\n<\/p>\n<p>\nIn addition to Moelis &amp; Company serving as financial advisor to Iteris, Latham &amp; Watkins LLP is serving as the Company\u2019s legal advisor.\n<\/p>\n<p><b>About Iteris, Inc.<\/b><\/p>\n<p>\nIteris is the global leader in smart mobility infrastructure management \u2013 the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.iteris.com&amp;esheet=52391974&amp;newsitemid=20210308005470&amp;lan=en-US&amp;anchor=www.iteris.com&amp;index=1&amp;md5=c25e9213b5da19c170d6bd6e03da3d15\">www.iteris.com<\/a> for more information and join the conversation on Twitter, LinkedIn and Facebook.\n<\/p>\n<p><b>Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:<\/b><\/p>\n<p>\nThis release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as &#8220;believes,&#8221; &#8220;anticipates,&#8221; &#8220;expects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;seeks,&#8221; &#8220;estimates,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;can,&#8221; and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company\u2019s anticipated demand and growth opportunities, conversion of bookings to revenue, the impact and success of new solution offerings, the Company\u2019s recent acquisition, our future performance, growth and profitability, operating results, and financial condition and prospects. Such statements are subject to certain risks, uncertainties, and assumptions that are difficult to predict and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Important factors that may cause such a difference include, but are not limited to: potential impacts on our business and our stock price of consideration or consummation of any strategic alternatives; federal, state and local government budgetary issues, spending and scheduling changes, funding constraints and delays, including in light of the COVID-19 pandemic; the timing and amount of government funds allocated to overall transportation infrastructure projects and the transportation industry; our ability to replace large contracts once they have been completed; the effectiveness of efficiency, cost, and expense reduction efforts; our ability to achieve anticipated benefits from our sale of our Agriculture and Weather Analytics segment; our ability to successfully complete and integrate acquired assets and companies; our ability to specify, develop, complete, introduce, market and gain broad acceptance of our new and existing product and service offerings; risks related to our ability to recruit and\/or retain key talent; the potential unforeseen impact of product and service offerings from competitors, increased competition in certain market segments, and such competitors\u2019 patent coverage and claims; any softness in the markets that we address; adverse effects of the COVID-19 pandemic on our vendors and our employees; and the impact of general economic and political conditions and specific conditions in the markets we address, and the possible disruption in government spending and commercial activities, such as the COVID-19 pandemic, import\/export tariffs, terrorist activities or armed conflicts in the United States and internationally. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, as contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC&#8217;s website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=52391974&amp;newsitemid=20210308005470&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=2&amp;md5=fcc293a10c926751726a787b3a6f7740\">www.sec.gov<\/a>).\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210308005470r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210308005470\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210308005470\/en\/<\/a><\/span><\/p>\n<p><b>For investor inquiries:<br \/>\n<\/b><br \/>Iteris Contact<br \/>\n<br \/>Douglas Groves<br \/>\n<br \/>Senior Vice President and Chief Financial Officer<br \/>\n<br \/>Tel: (949) 270-9643<br \/>\n<br \/>Email: <a rel=\"nofollow\" href=\"mailto:dgroves@iteris.com\">dgroves@iteris.com<\/a><\/p>\n<p><b>For media inquiries:<br \/>\n<\/b><br \/>Sard Verbinnen &amp; Co<br \/>\n<br \/>John Christiansen\/Matt Reid<br \/>\n<br \/>Tel: (415) 618-8750\/(310) 201-2040<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Iteris-SVC@sardverb.com\">Iteris-SVC@sardverb.com<\/a><\/p>\n<p>\nIteris Contact<br \/>\n<br \/>Pierre-Andr\u00e9 Rebeyrat<br \/>\n<br \/>Senior Vice President, Marketing<br \/>\n<br \/>Email: <a rel=\"nofollow\" href=\"mailto:PRebeyrat@iteris.com\">PRebeyrat@iteris.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Internet Data Management Mobile\/Wireless Other Technology Technology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Iteris Initiates Review of Strategic Alternatives Board has Engaged Moelis &amp; Company as Financial Advisor to Assist in its Review SANTA ANA, Calif.&#8211;(BUSINESS WIRE)&#8211; Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value. \u201cGiven Iteris participates in a large and dynamic market with multiple opportunities, the Iteris Board of Directors has decided to initiate a comprehensive review of strategic alternatives to maximize shareholder value,\u201d said Tom Thomas, Chairman of the Board of Iteris. \u201cTo assist in this strategic review, Iteris has retained Moelis &amp; Company as its financial advisor to review the Company\u2019s strategy and propose potential, additional &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iteris-initiates-review-of-strategic-alternatives\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Iteris Initiates Review of Strategic Alternatives&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-452542","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Iteris Initiates Review of Strategic Alternatives - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iteris-initiates-review-of-strategic-alternatives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iteris Initiates Review of Strategic Alternatives - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Iteris Initiates Review of Strategic Alternatives Board has Engaged Moelis &amp; Company as Financial Advisor to Assist in its Review SANTA ANA, Calif.&#8211;(BUSINESS WIRE)&#8211; Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value. \u201cGiven Iteris participates in a large and dynamic market with multiple opportunities, the Iteris Board of Directors has decided to initiate a comprehensive review of strategic alternatives to maximize shareholder value,\u201d said Tom Thomas, Chairman of the Board of Iteris. \u201cTo assist in this strategic review, Iteris has retained Moelis &amp; Company as its financial advisor to review the Company\u2019s strategy and propose potential, additional &hellip; Continue reading &quot;Iteris Initiates Review of Strategic Alternatives&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/iteris-initiates-review-of-strategic-alternatives\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-08T13:08:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210308005470r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iteris-initiates-review-of-strategic-alternatives\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iteris-initiates-review-of-strategic-alternatives\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Iteris Initiates Review of Strategic Alternatives\",\"datePublished\":\"2021-03-08T13:08:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iteris-initiates-review-of-strategic-alternatives\\\/\"},\"wordCount\":867,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iteris-initiates-review-of-strategic-alternatives\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210308005470r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iteris-initiates-review-of-strategic-alternatives\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iteris-initiates-review-of-strategic-alternatives\\\/\",\"name\":\"Iteris Initiates Review of Strategic Alternatives - 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