SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic management and weather information solutions, and Wavetronix, the worldwide market leader in radar traffic detection and monitoring, announce today an agreement to settle patent infringement litigation filed by Wavetronix against Iteris.
As part of that settlement, Iteris has agreed to remove the Continuous Mode feature from its Vantage Vector product, and the parties have dismissed their respective claims. Neither party admits liability and the remaining terms of the resolution are confidential.
For more information about Iteris, Inc., please visit www.iteris.com; for more information about Wavetronix, visit wavetronix.com.
About Iteris, Inc.
Iteris, Inc. (NYSE MKT: ITI) is a leader
in providing intelligent information solutions to the traffic management
market. The company is focused on the development and application of
advanced technologies and software-based information systems that reduce
traffic congestion, provide measurement, management, and predictive
traffic and weather analytics, and improve the safety of surface
transportation systems. By combining its unique IP, products, decades of
expertise in traffic management, hyper-local weather solutions and
information technologies, Iteris offers a broad range of Intelligent
Transportation System (ITS) solutions to customers worldwide. The firm
is headquartered in Santa Ana, California, with offices nationwide and
in the Middle East. For more information, please call 1-888-329-4483 or
visit www.iteris.com.
About Wavetronix - Wavetronix engineers and manufactures products that detect, connect and direct the traffic data needed for safer, more efficient roads and intersections. The SmartSensor line of multi-lane, multi-beam Digital Wave Radar sensors detects vehicles for freeway, arterial and intersection applications; Click Cabinet Systems provide important power and communication integration for traffic detection networks; and Command systems provide valuable onsite or online data management capabilities for DOT operations and planning departments. Founded in 2000, Wavetronix is headquartered in Provo, Utah, with regional offices located in Florida, London, France, China and Singapore. Wavetronix’ proprietary technologies are protected by US and international patents; other patents pending. For more information, visit Wavetronix online at www.wavetronix.com.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995
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," "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 impact of the management transition.
Such statements 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 locate, engage and retain a new Chief Executive Officer on a timely basis and on acceptable terms, and to manage the transition effectively without any material disruption to our business and relationships. 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).
