Iteris Receives $13.3 Million Contract from San Francisco Bay Area Metropolitan Transportation Commission
14 November 2023 - 2:30PM
Business Wire
Iteris will provide managed services that
support traveler information and toll lane operations across San
Francisco Bay Area
Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology
ecosystem for smart mobility infrastructure management, today
announced the Metropolitan Transportation Commission (MTC) has
awarded Iteris a $13.3 million contract to continue operational
support in the San Francisco Bay Area.
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Iteris Receives $13.3 Million Contract
from San Francisco Bay Area Metropolitan Transportation Commission.
(Photo: Business Wire)
Iteris has been providing key services to the MTC since 2020 and
the new contract continues this valuable partnership through June
2027. Under the terms of the contract, Iteris will continue to
provide managed services that support the real-time operations for
MTC’s 511 Traveler Information and Bay Area Express Lanes
Operations Programs.
The 511 Traveler Information Center in Oakland, California, is
responsible for collecting, curating, and disseminating traffic
information across the Bay Area. The Express Lanes Regional
Operations Center, located in San Francisco at the Bay Area Metro
Center, is responsible for monitoring and operating 125 miles of
Bay Area Express Lanes on I-680, I-880, and US-101, with further
expansions anticipated. The nine-county region being serviced has
nearly 20,000 miles of local streets and roads, over 1,400 miles of
highway, and over two dozen transit agencies.
“We are thrilled to be continuing our successful partnership
with the Metropolitan Transportation Commission,” said Dr. Moe
Zarean, general manager, mobility operations services at Iteris.
“With a project and important partnership that commenced in spring
2020, we’re proud to have provided a flexible business model
allowing MTC to continue operations and performance during the
uncertain times caused by the COVID-19 pandemic and the need to
operate in a remote work environment. From this beginning, the
value of our ongoing support and service has proven to be an asset
for MTC in any type of environment. Looking ahead, we’re excited
for the opportunity to continue improving operational performance,
mobility and sustainability these next four years.”
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
awarded contract and capabilities and benefits of our managed
services. 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 deliver our
services timely and in a cost-efficient manner; government funding
and budgetary issues and delays; project performance timing; impact
of influences and variances of general economic, political,
environment, and other conditions in the markets we address; 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).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231114590252/en/
Media Contact Breanna Wallace Tel: (949) 996-5348 Email:
brwallace@iteris.com
Investor Relations MKR Investor Relations, Inc. Todd
Kehrli Tel: (213) 277-5550 Email: iti@mkr-group.com
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