Monday, December 27, 2010
Iteris Buys Meridian Environmental Technology
Santa Ana-based Iteris, a developer of traffic management software and technology, said today that it is acquiring Meridian Environmental Technology, a developer of traveler information systems and highway maintenance software. Iteris said it paid $4M in cash, plus up to $2M in earn out, for Meridian. Meridian is based in Grand Forks, North Dakota.