Rome, Italy-based Almaviva announced the acquisition of Iteris, a U.S.-based company listed on Nasdaq (ITI.O) that provides smart mobility infrastructure management solutions for both public and private sector clients across North America.
The transaction is valued at approximately $335M, with a purchase price of $7.20 per share. Iteris will no longer be listed on any public market effective as of the closing. To finance this acquisition, Almaviva has issued a bond listed on the Luxembourg Stock Exchange, trading on the Euro MTF market, with a total nominal value of €725M (approx. $784M), maturing in 2030. The bond is issued at 100% of its nominal value and carries an annual interest rate of 5%, with semi-annual coupon payments.
With the acquisition, Almaviva is enhancing its expertise, product offerings, and solutions by introducing its proprietary Moova sustainable mobility platform and Italian know-how to the North American market, further solidifying its position in the global transportation and logistics landscape.
Iteris is a provider of smart mobility infrastructure management solutions. Its cloud-enabled solutions help public transportation agencies, municipalities, commercial entities and other transportation infrastructure providers monitor, visualise, and optimise mobility infrastructure to make mobility safe, efficient, and sustainable. As a pioneer in intelligent transportation systems technology, Iteris’ advanced detection sensors, mobility and traffic data, software-as-a-service offerings, and consulting services represent a comprehensive range of mobility infrastructure management solutions that serve customers in the United States and internationally.
