$2.9 million subcontract with CAI includes deployment of the Iteris ClearAsset® asset management software and ongoing program support

RICHMOND, Va.--(BUSINESS WIRE)--Apr. 27, 2023-- Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that it has been chosen by Virginia Department of Transportation (VDOT) to provide statewide traffic operations support services, representing continued demand for Iteris’ managed services and software-as-a-service in a key geographic market.

Under the terms of the $2.9 million one-year contract (renewable for two one-year extensions) with CAI, a global technology services firm, Iteris will leverage its ClearAsset software to expand the asset management program support to include IP-addressable assets for both the statewide signal maintenance program and Traffic Operations Center assets program. Additionally, Iteris will provide operations support for VDOT’s 24/7 Network Operations Center (NOC).

ClearAsset will enable VDOT to track and maintain the inventory and condition of technology equipment deployed in the field or warehoused, conduct lifecycle analysis, and monitor asset performance over time. This service improves traffic sensor uptime for improved overall operations, and management of traffic signals and highway intelligent transportation systems.

Iteris will also provide further program support services such as contractor performance management, asset database management, asset inventory management, and network change management.

This project aims to aggregate all VDOT operations technology assets under a single operations and maintenance program to increase operational efficiency and improve daily operations and maintenance responsiveness. It will bring together the existing 15,000+ ITS assets, which were previously operated and maintained by different divisions, as well as add an estimated 12,000 signal assets at 3,200 signalized intersections.

“We are proud to continue to support VDOT’s goals of improving safety, mobility and sustainability in the Commonwealth of Virginia by embarking on this progressive regional improvement project,” said Dr. Moe Zarean, general manager, mobility operations services at Iteris. “This initiative represents the continued expansion of Iteris’ managed services and SaaS solutions, and will ultimately help to increase the value and effectiveness of Virginia’s existing transportation infrastructure, while also increasing sustainability.”

About Iteris, Inc.

Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our cloud-enabled end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. 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 subcontract, the signal maintenance program, and capabilities and benefits of our mobility consulting services and software. 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 provide our services in a cost-efficient manner; government funding and budgetary delays, issues and timing; adverse impacts related to performance timing and cancellation of a program; the potential impact of product and service offerings from competitors and other competitive pressures; challenges in the development of software-based solutions generally; and the impact of general economic, political and other conditions in the markets we address. 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).

About CAI

CAI is a global technology services firm with over 8,500 associates worldwide and a yearly revenue of $1 billion+. We have over 40 years of excellence in uniting talent and technology to power the possible for our clients, colleagues, and communities. As a privately held company, we have the freedom and focus to do what is right—whatever it takes. Our tailor-made solutions create lasting results across the public and commercial sectors, and we are trailblazers in bringing neurodiversity to the enterprise.

Learn how CAI powers the possible at www.cai.io

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Media Contact
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Investor Relations
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Source: Iteris, Inc.