Almaviva Acquires Iteris for $335 Million in Cash

Smart mobility infrastructure provider Iteris Inc. (ITI) entered a merger agreement on August 9, 2024, to be acquired by Italy-based Almaviva S.p.A. in an all-cash deal valued at $335 million.

Details of the Agreement:

Under the terms of the agreement, Iteris shareholders will receive $7.20 per share in cash from Almaviva, representing a premium of 68.22% from the stock’s last close.

Company Profile:

Iteris is a company that provides smart mobility solutions, including sensors, software, and consulting, to improve transportation systems’ safety, efficiency, and sustainability in the U.S. and globally.

Almaviva is an Italian company that leads in digital innovation, providing advanced tech solutions for sectors like transportation, logistics, and digital health, with a strong focus on IT for moving people and goods worldwide.

Deal Details and Timeline:

The deal is expected to be completed in 2024, with Almaviva planning to finance the transaction using debt financing.

Iteris will transition to a private company once the deal is completed. Iteris’ current Price/Sales (TTM) ratio is 1.07, below the sector median of 2.84.

Deal Metrics:

For further details regarding this M&A transaction, please visit the Deal Metrics page at the following link:

Deal Metrics for the acquisition of Iteris Inc. (ITI) by Almaviva S.p.A.

The Deal Metrics page provides a comprehensive overview of the merger including:

• A spread history chart of the merger from announcement to completion or failure.
• Important events as the merger progresses including regulatory approvals, shareholder votes, and more.
• News and SEC filings related to the deal.
• A history of deal updates.
• And much more.

Disclaimer: This article is intended for informational purposes only. Please perform your own due diligence before buying or selling any securities mentioned in this article. The accuracy and completeness of the content or data provided in this article is not guaranteed.

Editor’s Note: Baranjot Kaur contributed to this article