10:18 AM EDT, 10/23/2024 (MT Newswires) -- Iteris ( ITI ) said Wednesday it received stockholder approval for its proposed merger with Almaviva.

Under the terms of the all-cash deal, Almaviva will acquire Iteris ( ITI ) for $7.20 per share, valuing the company at roughly $335 million.

The companies expect the deal to close on or about Nov. 1, after which Iteris ( ITI ) will no longer be listed on any public market.

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