AUSTIN, Texas--(BUSINESS WIRE)--Oct 31, 2023--
Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that it has been awarded a task order under Iteris’ General Services Administration Multiple Award Schedule contract with a ceiling of $9.5 million from the Federal Highway Administration Intelligent Transportation Systems Joint Program Office (ITS JPO) to provide continued development, evolution and deployment support for the nation’s Intelligent Transportation Systems (ITS) reference architecture program.
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Iteris Awarded Federal Highway Administration Contract for Intelligent Transportation Systems Architecture Program (Photo: Business Wire)
Under the three-year agreement, Iteris will support the evolution of the Architecture Reference for Cooperative and Intelligent Transportation (ARC-IT) content to reflect ongoing changes in ITS, including new capabilities enabled by automation, connectivity, and emerging technology. The program supports statewide and regional ITS planning and deployment to encourage interoperability and emerging technology preparedness through workshops, training and technical assistance.
“Since its initial release in 1996, the ITS architecture program has been a vital and constantly evolving reference for ITS and emerging technology projects,” said Dr. Moe Zarean, general manager, mobility operations services at Iteris. “Iteris is honored to provide expertise which supports the ITS JPO’s mission to improve the safety, mobility, equity, and sustainability of our nation’s transportation system.”
Iteris has led the evolution of the U.S. ITS architecture reference for three decades, most recently expanding ARC-IT to support Multimodal Accessible Travel (MAT). These updates have addressed accessible navigation, payment integration, and vulnerable road user safety across multiple modes, with the MAT analysis including a gap assessment to inform standards updates and development planning. ARC-IT has also been updated to better support Management of Electronic Traffic Regulations, which addresses electronic communication of traffic regulations to connected and automated vehicles. The exceptional team that Iteris assembled for the next evolution of ARC-IT includes Consystec, Cooperative Mobility, GO Systems and Solutions, JMCRota, Trevilon, and TrustThink.
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," “feels,” "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “could,” “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 ongoing ITS changes and emerging technology 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 in a cost-effective manner; agency funding and budgetary issues and delays; 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 in the markets we address; performance timing and cancellation of task orders; and the potential impact of product and service offerings from competitors and other competitive pressures. 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 ).
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CONTACT: Media Contact
Breanna Wallace
Tel: (949) 996-5348
Email:brwallace@iteris.comInvestor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
Email:iti@mkr-group.com
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
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SOURCE: Iteris, Inc.
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PUB: 10/31/2023 08:30 AM/DISC: 10/31/2023 08:33 AM
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