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Italian tech group AlmavivA acquires Texas based Iteris, Inc. for $335 million #Iteris, an Austin-based leader in smart mobility infrastructure management, has agreed to be acquired by A#lmaviva, an Italian digital innovation group, in a $335 million all-cash deal. Led by CEO Joe Bergera, Iteris provides cloud-enabled solutions that help public transportation agencies, municipalities, and commercial entities optimize mobility infrastructure, making transportation safer, more efficient, and sustainable. Almaviva, known for its advanced technological solutions across various sectors, including transport, logistics, and digital health, will finance the acquisition with committed debt financing. Following the transaction, Iteris will become a privately held company, and its shares will no longer trade on Nasdaq. This acquisition marks a strategic expansion for Almaviva, enhancing its global footprint in intelligent transportation systems. The deal is expected to close in 2024, pending shareholder and regulatory approvals. The article on FinSMEs in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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Tommaso Caramelli

Financial Controller @Cadigroup | Deloitte | Nova SBE

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