Iteris Purchases Hamilton Signal Assets

SANTA ANA, CA /BUSINESS WIRE/ -- Iteris Inc., a leader in the traffic management market that focuses on the application and development of advanced technologies, announced that the company has acquired the assets and intellectual property of Hamilton Signal, including the Abacus system. The founder of Hamilton Signal, Daniel Benhammou, will join Iteris as Abacus Product Manager.

The Abacus system's proprietary technology provides departments of transportation and traffic engineers a cost-effective tool to collect traffic data, rapidly identify incidents, and gain access to additional traffic-flow information by leveraging their existing video surveillance infrastructure.

"The Abacus technology has been well received in the market place," states Daniel Benhammou, Abacus Product Manager. "I believe that Iteris has the resources, reputation, and market presence to grow the adoption within the industry. I am excited about joining forces with Iteris to maximize the market opportunity for this technology."

"This acquisition expands Iteris' product portfolio in the traffic management market, which should enable us to provide a wide range of data-mining services to our public and private sector clients via our significant market presence and channels," commented Abbas Mohaddes, Iteris' President and Chief Executive Officer. "I believe the acquisition of Hamilton Signal nicely complements our Roadway Sensors technology and allows us to address an adjacent market segment. The addition of the Abacus system to our product line demonstrates Iteris' commitment to introducing new and innovative solutions that allow states and municipalities to take full advantage of their existing ITS infrastructure."

About Hamilton Signal
Hamilton Signal enables state and local governments to conduct real-time analysis on fixed and pan-tilt-zoom camera feeds. Daniel Benhammou, CTO, founded Hamilton Signal in 2006 to take advantage of the significant market opportunity created by his development of novel video processing algorithms. These included the Hamilton Signal Integrated Data Collector and its array of plug-ins, and the Traffic Analyzer.

About Iteris
Iteris Inc. is a leader in the traffic management market, focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion, and improve the safety of surface transportation systems. Combining outdoor image processing, traffic engineering, and information technology, Iteris offers a broad range of intelligent transportation systems and driver safety solutions to customers worldwide. Iteris is headquartered in Santa Ana, CA, with offices throughout North America, Europe, and Asia. Investors are encouraged to contact us at 888-329-4483.