Monday, June 17, 2019

Iteris Acquires Albeck Gerken

Santa Ana-based Iteris, which provides data analysis in the areas of traffic, roads, weather, water, soil and crops, says that it has acquired Albeck Gerken, a provider of traffic operations engineering services. Albeck Gerken was based in Tampa, Florida. Accordin to Iteris, it will pay $10.7M for Albeck Gerken, split between cash and stock, and also another $2.3M in incentives paid out over the next three years. Albeck Gerken had revneues of $8.1M for the fiscal year ending December 31, 2018. The data and information provided by Iteris is used for the transportation and agriculture market.