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Iteris awarded initial USD10m contract by Virginia Department of Transportation.

M2 EQUITYBITES-September 30, 2011-Iteris awarded initial USD10m contract by Virginia Department of Transportation(C)2011 M2 COMMUNICATIONS http://www.m2.com

Iteris Inc (NYSE Amex: ITI), a provider of traffic management solutions, said yesterday that it has been selected by the Virginia Department of Transportation (VDOT) to provide the core services of 511 Interactive Voice Response, aggregating transportation video and managing web-based traveller information and other data.

The initial five-year, task order-based contract has an estimated value of USD10m. The contract also includes the option for two, two-year extensions.

Under the contract Iteris will also be responsible for distributing related information to the VDOT and travelling public, as well as to other VDOT public partners. Work on the project is expected to commence immediately.

The new system will be implemented during the next six months and will reportedly include a number of new features and enhancements to the current system in place since 2008.

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Date:Sep 30, 2011
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