To effectively manage transportation systems, one needs a complete view of what is happening in terms of traffic, events such as weather, and maintenance. With severe weather like the recent storm that wreaked havoc on road and rail systems early this week, it is important to have this information for decision-making, especially to prevent productivity-damaging traffic congestion and infrastructure wear-and-tear.
That type of integrated synergy, available from a single supplier, appears to be possible as a result of a deal by Iteris, a developer of solutions to minimize traffic congestion. Iteris will acquire Meridian Environmental Technology (MET), which makes traveler information and roadway maintenance decision-making tools for $4 million in cash, plus up to an additional $2 million under a 24-month earn-out provision.
Iteris offers a broad range of Intelligent Transportation Systems (ITS) and driver safety solutions including roadway and vehicle sensors. They combine outdoor image processing, traffic engineering and IT.
MET supplies 511 advanced traveler information systems, as well as Maintenance Decision Support System (MDSS) management tools that allow users to create solutions to meet roadway maintenance decision needs. The Meridian MDSS provides detailed and accurate information at the route level, enabling the efficient maintenance of roads and highways, while optimizing resource use and reducing costs.
MET draws from extensive public and private data resources to convert raw weather and geographic data into information to meet the needs of a diverse customer base. It offers a unique range of customer-specific environmental and operational forecasting products and services. An internally developed system, named SAFE, is used as the model for the 511 National Guidelines, and delivers customized route-specific surface weather and road condition reports statewide across several states.
“This acquisition commences a key element of our accelerated growth strategy targeting synergistic companies that enhance our IP,” said Abbas Mohaddes, president and CEO of Iteris. “In addition to an attractive customer base within weather and traveler information systems, MET provides Iteris with key capabilities in the emerging performance measurement and management market. With MET, our company is better equipped to empower travelers and traffic management authorities with more accurate and real-time information, and network performance management.”
“This was an obvious strategic move for us since our companies have worked very well together on various projects in the past, including 511 travel information and weather forecasting services,” said Leon Osborne, president and CEO of MET. “Iteris offers a leading platform in the ITS market that will help leverage our services into new geographies and market opportunities.”
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