Inrix seeks to acquire ITIS Holdings

Inrix, the international provider of real-time traffic information and connected driving services, has made an offer to acquire ITIS Holdings for US$59 million.
January 27, 2012 Read time: 1 min

163 Inrix, the international provider of real-time traffic information and connected driving services, has made an offer to acquire 745 ITIS Holdings for US$59 million.

Inrix says the proposed acquisition, which will significantly expand its business into Australia, Brazil, South Africa, Singapore and Russia, with enhanced coverage in the UK, would grow its business exponentially in several areas. “Automakers, mobile companies and other customers are increasingly demanding global traffic and connected driving solutions,” said Bryan Mistele, president and CEO of Inrix. “ITIS is a strategic investment that expands our geographic reach, technical expertise and suite of market-leading technologies to offer customers the best traffic information, more cost-effectively and in more markets.”

Pending approval by ITIS shareholders, the deal is expected to close in late August 2011.

UTC

For more information on companies in this article

Related Content

January 8, 2013

Inrix and CenNavi to deliver premium traffic services in China

US-headquartered traffic information and driver services provider Inrix is to partner with China’s traffic information services provider CenNavi to deliver premium real-time, predictive and historical traffic services across China. The companies say the collaboration leverages Inrix’s sophisticated traffic intelligence platform, vertical market expertise and connected services technologies with CenNavi’s real-time traffic information and advanced technologies, domestic experience and automotive relationship
April 17, 2012

Inrix completes acquisition of IT IS Holdings

Inrix announced today that it has completed the acquisition of ITIS Holdings, a UK-based traffic information company. The acquisition adds US$27 million in revenue and 155 employees to Inrix, and extends its reach to more than 200 leading customers in 30 countries around the world.
September 10, 2015

Inrix expands into smart parking with acquisition of ParkMe

Inrix is accelerating its development of smart parking services with the acquisition of ParkMe, a Santa Monica, California company that helps drives find parking, make reservations and mobile payments worldwide. According to Inrix, the acquisition expands its data aggregation and industry expertise, enabling it to more rapidly deliver a comprehensive set of parking services, including locating, comparing, reserving and paying for parking from a smartphone or vehicle. The acquisition also expands the par
boombox1

Highlighted Content

boombox2