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Home Business News Iteris Board of Directors Unanimously Rejects Unsolicited Proposal from Rekor Systems

Iteris Board of Directors Unanimously Rejects Unsolicited Proposal from Rekor Systems


SANTA ANA, Calif.–()–Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that its Board of Directors has reviewed and unanimously rejected the non-binding, unsolicited proposal disclosed today by Rekor Systems (NASDAQ: REKR) to acquire Iteris for consideration consisting of approximately 17% cash and 83% Rekor shares at current stock prices.

“After a careful and thorough review, conducted in consultation with our independent advisors, the Iteris Board unanimously concluded that the unsolicited proposal significantly undervalues the Company and is not in the best interests of our shareholders,” said Tom Thomas, Chairman of the Board of Iteris. “The…



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