Board has Engaged Moelis & Company as Financial Advisor to Assist in its Review
Iteris, Inc., the global leader in smart mobility infrastructure management, announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value.
“To assist in this strategic review, Iteris has retained Moelis & Company as its financial advisor to review the Company’s strategy and propose potential, additional opportunities to enhance our value and market position.”
“Given Iteris participates in a large and dynamic market with multiple opportunities, the Iteris Board of Directors has decided to initiate a comprehensive review of strategic alternatives to maximize shareholder value,” said Tom Thomas, Chairman of the Board of Iteris. “To assist in this strategic review, Iteris has retained Moelis & Company as its financial advisor to review the Company’s strategy and propose potential, additional opportunities to enhance our value and market position.”
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Joe Bergera, President and CEO of Iteris added, “Over just the past two years, we have rationalized Iteris’ product portfolio, optimized the Company’s capital structure, and improved our operations. This strategic review will ensure we continue to have the right strategy to deliver both the best solutions for our customers and the strongest returns for our shareholders.”
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No assurances can be given regarding the outcome or timing of the review process. Iteris’s does not intend to make any further public comment regarding the review until it has been completed or the Company determines that disclosure is required or beneficial.
In addition to Moelis & Company serving as financial advisor to Iteris’s, Latham & Watkins LLP is serving as the Company’s legal advisor.
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