Exclusive Partnership to Support Demand for Intelligent Warning Systems in Key Transportation Market
- Deal represents milestone in Iteris' strategic focus on geographical expansion in one of the "largest, most progressive and influential" national transportation markets
- Products help to reduce speed, injuries and accidents for drivers, pedestrians and other vulnerable road users
SANTA ANA, Calif. – February 22, 2018 – Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced an exclusive agreement with Traffic & Parking Control Co., Inc. (TAPCO), a manufacturer of solar, wireless and eco-friendly intelligent transportation systems products, to distribute its Intelligent Warning Systems (IWS) products throughout Texas.
The deal spans TAPCO's complete offering of IWS solutions, which includes solar-powered and LED-enhanced systems for pedestrian crosswalks, stop sign intersections, work zones, parking facilities and more. TAPCO's popular BlinkerChevron™ Dynamic Curve Warning System will also be offered as part of the agreement, along with its innovative wrong-way driving prevention solutions.
"TAPCO's range of advanced roadway technology complements our own offerings and will position us to deliver end-to-end solutions in a key strategic market for Iteris," says Nader Ayoub, regional vice president, Roadway Sensors at Iteris. "Texas is one of the largest, most progressive and influential transportation markets in the US, so we would expect our innovative use of technology in the state to ultimately benefit the safety and convenience of road users nationwide."
"TAPCO intelligent warning systems have become widely used throughout the state of Texas, which triggered our decision to evaluate distribution partners in the industry," says Lindsay Lau, director of sales at TAPCO. "Iteris was an easy choice because of its reputation, industry expertise and superior service levels. The company's ability to foster long-term relationships by educating end users and contractors on advanced roadway technology will ensure our innovative products are well represented and people are safer as a result."
As an industry-leading innovator, TAPCO manufactures and distributes a wide portfolio of traffic and parking safety solutions designed to increase safe travels for all. Since 1956, we have set the standard for delivering reliable, cutting-edge traffic safety enhancements. From our world-renowned line of LED-enhanced BlinkerSign® solutions to our pedestrian crossing products, safety is at the heart of all TAPCO innovations.
About Iteris, Inc.
Iteris is the global leader in applied informatics for transportation and agriculture, turning big data into big breakthrough solutions. We collect, aggregate and analyze data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming. Municipalities, government agencies, crop science companies, farmers and agronomists around the world use our solutions to make roads safer and travel more efficient, as well as farmlands more sustainable, healthy and productive. Visit www.iteris.com for more information and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "should," "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the anticipated results and benefits of our agreement and our future success and benefits in connection with third party product offerings. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Important factors that may cause such a difference include, but are not limited to, our ability to timely and on a cost-efficient basis offer for sale, deliver and support third party products in Texas; the potential impact of product and service offerings from competitors and other competitive pressures; our dedication of resources and ability to achieve market acceptance for third party solutions and services; the broad adoption of technology based solutions in the market; our competitors' patent coverage and claims; and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC's website (www.sec.gov).
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