Total Traffic & Weather Network and Iteris Expand Nationwide Partnership

Rhea-AI Summary

Iteris has expanded its partnership with Total Traffic & Weather Network (TTWN) to enhance mobility intelligence solutions targeting both public and commercial sectors. This multi-year agreement focuses on addressing the pandemic-induced shifts in traffic patterns by integrating TTWN's traffic incident data with Iteris' ClearMobility™ Cloud. The collaboration aims to provide comprehensive traffic information to various industries, reflecting the increased demand for accurate data as traffic congestion returns to pre-pandemic levels with more variability.

Positive

• Expanded partnership with Total Traffic & Weather Network enhances service offerings.
• Integration of traffic incident data enables more comprehensive mobility intelligence.
• Increased demand for accurate traffic information from multiple sectors supports revenue growth.

Negative

• None.

Multi-Year Agreement Will Combine Traffic Data from Both Companies to Deliver Industry-Leading Mobility Intelligence Solutions to Existing Customers and New Markets

• New agreement addresses the pandemic “new normal” for returning traffic volume but increased traffic variability.
  
  
• Combination of enhanced traffic incident data from TTWN and Iteris, and integration of Iteris traffic flow enables new mobility insights for TTWN’s broadcast media clients.
  
  
• Deal reflects growing demand from more markets for accurate, actionable traffic information from public transportation agencies, radio and TV broadcasters, automotive OEMs, logistics operations, insurance providers, construction firms and non-traditional market sectors.

SANTA ANA, Calif. & NEW YORK--(BUSINESS WIRE)-- Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, and Total Traffic & Weather Network (TTWN), the iHeartMedia-owned leading provider of traffic, transit and weather information in the United States, today announced the expansion of their nationwide partnership to deliver the most comprehensive mobility intelligence solutions available to public-sector and commercial enterprise customers throughout the U.S.

Total Traffic & Weather Network and Iteris Expand Nationwide Partnership (Photo: Business Wire)

As part of the expanded multi-year partnership, TTWN will broaden its coverage of award-winning, real-time traffic incident data provided to Iteris, which is aggregated and verified by a team of 600-plus traveler information experts nationwide. TTWN’s traffic incident data will be integrated in Iteris’ ClearMobility™ Cloud, which already captures over 200 sources of road closure, construction and other traffic impact data. The integration will result in the industry’s most comprehensive traffic incident data available.

Enabled by the ClearMobility Cloud, Iteris’ mobility data management engine, application programming interface (API) framework and microservices ecosystem, this data integration will support TTWN’s expansion into new vertical markets, including local, regional, state and federal transportation agencies, construction firms, insurance companies, fleet operators, and delivery companies.

The new agreement enables Iteris to expand its long-term relationship with TTWN in support of its network of radio and TV broadcast customers and automotive OEMs which rely on TTWN’s commuter-focused traveler information to determine the safest and most efficient routes.

The expanded partnership coincides with the return of traffic congestion. In many markets traffic is back to pre-pandemic levels, but peak congestion times have shifted and occur at much more variable times. This “new normal” is driving an increased need for accurate, comprehensive data on traffic flows and incidents, which this expanded partnership delivers.

“We are excited to extend and expand our partnership with Total Traffic & Weather Network to provide radio and television broadcasting partners, and automotive OEMs throughout the United States with real-time traffic incident and flow information as they embark on their daily journeys,” said Al McGowan, Senior Vice President, Strategic Business Development at Iteris.

“Traffic is back, but typical traffic patterns have changed. This extension of our collaboration with Iteris recognizes the pandemic new normal for traffic variability. By combining our traffic incident and flow data, we are able to provide the marketplace with an enhanced, best-in-class mobility intelligence solution,” said Kevin Loftus, Senior Vice President, Operations for TTWN.

About Total Traffic & Weather Network

Total Traffic & Weather Network is the leading provider of traffic, transit and weather information in the United States, reaching 98% of American commuters monthly across more than 200 markets. With services to over 2,600 radio and television affiliates plus automotive, navigation, internet, mobile and government partners, Total Traffic & Weather Network operates the largest traffic data gathering network, staffed with over 1,200 local traffic reporters and producers. For more information visit www.ttwnetwork.com.

About Iteris, Inc.

Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility Platform, our cloud-enabled end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.

Iteris’ traffic flow and incident data feeds and APIs are key components of the ClearMobility Platform. ClearMobility applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to help ensure roads are safe, travel is efficient, and communities thrive.

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 capabilities and benefits of ClearMobility Platform. 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 provide our services and products in a cost-efficient manner; our ability to introduce, market and gain broad acceptance of our new and existing product and service offerings in the transportation industry; the potential impact of product and service offerings from competitors and other competitive pressures, such as competitors’ patent coverage and claims; challenges in the development of software-based solutions generally; 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).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005142/en/

Total Traffic & Weather Contact

Jennifer Savage

Tel: (419) 351-5145

Email: jennifersavage@iheartmedia.com

Iteris Media Contact

David Sadeghi

Tel: (949) 270-9523

Email: dsadeghi@iteris.com

Iteris Investor Relations

MKR Investor Relations, Inc.

Todd Kehrli

Tel: (213) 277-5550

Email: iti@mkr-group.com

Source: Iteris, Inc.

FAQ

What is the new agreement between Iteris and Total Traffic & Weather Network?

Iteris has expanded its partnership with Total Traffic & Weather Network to enhance mobility intelligence solutions, integrating traffic incident data to better serve public and commercial sectors.

How does the partnership address post-pandemic traffic patterns?

The partnership focuses on the increased variability of traffic patterns post-pandemic, providing accurate data to navigate new traffic conditions effectively.

What industries will benefit from the Iteris and TTWN partnership?

Industries such as public transportation, broadcasting, automotive, logistics, and insurance will benefit from the enhanced mobility intelligence solutions.

What technology does Iteris use for traffic data management?

Iteris utilizes its ClearMobility™ Cloud to aggregate and verify traffic incident data, ensuring comprehensive mobility insights.

What impact does this partnership have on stock symbol ITI?

The expanded partnership with TTWN can enhance Iteris' market position and revenue potential, potentially benefiting its stock performance under symbol ITI.