Latham & Watkins Advises Iteris in Take-Private Acquisition by Almaviva

Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, has announced that it has entered into a definitive merger agreement to be acquired by Almaviva S.p.A., a private Italian digital innovation group, in an all-cash transaction valuing Iteris at approximately US$335 million equity value. Under the terms of the agreement, Iteris shareholders will receive US$7.20 in cash for each share of Iteris common stock. Iteris is a global leader in smart mobility infrastructure management with over 10,000 public agencies and private-sector enterprises that rely on the Company’s AI-powered ClearMobility Platform to monitor, visualize, and optimize their mobility infrastructures.

Latham & Watkins LLP represents Iteris in the transaction with a corporate deal team led by Century City partner Steven Stokdyk, Orange County partner Daniel Rees, and Century City partner Brian Duff, with associates Mark Goshgarian, Olivia Pettingill, and Diana Chung. Advice was also provided on tax matters by Los Angeles partner Eric Cho, with associate Brian Rogers; on finance matters by Los Angeles partner Mark Morris, New York partner Nathan Whitaker, and Paris partner Roberto Reyes Gaskin; on executive compensation and benefits matters by San Diego partner Holly Bauer, with associate Julie Voorhes; on intellectual property matters by Los Angeles partner Ghaith Mahmood, with associate Nicole Nour; on environmental matters by Los Angeles partner Aron Potash, with associate Georgia Bellett; on antitrust matters by Washington, D.C. partner Peter Todaro, with associates Ben Bouwman and Daniel Baker; on CFIUS matters by Washington, D.C. counsel Ruchi Gill, with associate Asia Cadet; on real estate matters by Century City partner Meghan Cocci; and on government contracts matters by Washington, D.C. partner Dean Baxtresser, with associate Genevieve Hoffman.