Five-year Agreement with Contract Ceiling of $19.5 Million
Demonstrates Iteris’ Continuous Role as Trusted Advisor to US Department
of Transportation
- New contract leverages Iteris’ ITS expertise to prepare cities and
states for advancements in connected and autonomous vehicle technology
- Task orders to include implementation and evolution of ARC-IT
framework, as well as delivery of training programs to public agencies
nationwide
SANTA ANA, Calif.--(BUSINESS WIRE)--Jun. 19, 2018--
Iteris,
Inc. (NASDAQ: ITI), the global leader in applied informatics for
transportation and agriculture, today announced that it has been awarded
an indefinite delivery/indefinite quantity (IDIQ) contract with a
ceiling of $19.5 million from the Federal Highway Administration (FHWA)
to provide continued development, evolution and deployment support for
the intelligent transportation systems (ITS) reference architecture
program.
Under the five-year IDIQ contract, Iteris will support the evolution of
the Architecture
Reference for Cooperative and Intelligent Transportation (ARC-IT)
content to reflect changes in ITS, and connected automated vehicle (CAV)
developments. The program supports statewide and regional ITS planning
and deployment to encourage interoperability and CAV preparedness
through workshops, training and technical assistance.
“The ITS architecture program has been a vital and constantly evolving
reference for ITS, and automated vehicle and connectivity projects since
its release over 20 years ago,” said Ramin Massoumi, senior vice
president and general manager, Transportation Systems at Iteris. “Iteris
is honored to continue providing the expertise required to support the
US Department of Transportation’s efforts to improve safety and
mobility.”
Iteris has led the development and evolution of the U.S. ITS
architecture reference for over two decades, and initiated the Connected
Vehicle Reference Implementation Architecture in 2012. Combining the two
architectures into ARC-IT allows transportation stakeholders to see the
linkages between their ITS and CAV technologies and facilitates
integration and interoperability discussions as they plan and implement
ITS and CAV projects. Iteris leads an experienced core team of Ice &
Associates and Consystec. Additional team members include Trevilon and
Booz Allen Hamilton.
About Iteris, Inc.
Iteris is the global leader in applied informatics for transportation
and agriculture, turning big data into big breakthrough solutions. We
collect, aggregate and analyze data on traffic, roads, weather, water,
soil and crops to generate precise informatics that lead to safer
transportation and smarter farming. Municipalities, government agencies,
crop science companies, farmers and agronomists around the world use our
solutions to make roads safer and travel more efficient, as well as
farmlands more sustainable, healthy and productive. Visit www.iteris.com
for more information and join the conversation on Twitter,
LinkedIn
and Facebook.
Iteris Forward-Looking Statements
This 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 "believes,"
"anticipates," "expects," "intends," "plans," "seeks," "estimates,"
"may," “should,” "will," "can," 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 total
value, success, impact, and benefits of the awarded contract, and the
services related to ARC-IT, including ITS changes and connected
automated vehicle (CAV) developments. Such statements are not guarantees
of future performance and 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, our ability to successfully perform the services cost
effectively; agency funding and budgetary allocations and constraints;
utilization needs of the agency for the services subject to the contract
(e.g., seasonality); impact of adverse influences and variances of
general economic, political, environmental, and other conditions;
performance timing and cancellation of task orders; and the potential
impact of product and service offerings from competitors. Further
information on Iteris, Inc., including additional risk factors that may
affect our forward-looking statements, is 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’s
website (www.sec.gov).
View source version on businesswire.com: https://www.businesswire.com/news/home/20180619005544/en/
Source: Iteris, Inc.
Iteris Contact
David Sadeghi, (949) 270-9523
dsadeghi@iteris.com
or
Investor
Relations
MKR Group, Inc.
Todd Kehrli, (323) 468-2300
iti@mkr-group.com