Travel Technology

Iteris Acquires Travel Technology Firm TrafficCast for $16 Million

Iteris, a global leader in smart mobility infrastructure management, has agreed to acquire TrafficCast International that gives travel information technology, for $16 million.

Madison, Wisconsin-based TrafficCast recorded following 12-month of $14.6 million and changed EBITDA of $1.2 million for the period ending September 30, 2020. Around 60% of the organization's complete sales is identified with its software product items and is accounted for as annual recurring revenue.

TrafficCast works two lines of business – commercial and public area – every of which contributes around 50% of total revenue.

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