backKing & Spalding advised our client Almaviva in connection with its acquisition of Iteris for $7.20 per share in an all-cash take-private transaction that valued Iteris at approximately $337,000,000.
Almaviva is a digital innovation group, which has built a global network consisting of 30 companies and 79 offices in Italy and abroad, with a significant presence in LATAM (Brazil, Colombia, Dominican Republic), as well as in the United States, Belgium, Spain, Finland, Saudi Arabia, the United Arab Emirates, Egypt, Tunisia.
Iteris is a global leader in smart mobility infrastructure management with over 10,000 public agencies and private-sector enterprises that rely on the Company’s AI-powered ClearMobility Platform to monitor, visualize, and optimize their mobility infrastructures.
The King & Spalding corporate team advising Almaviva on the acquisition was led by partners Enrico Granata and Rob Leclerc and supported by associates Connor Ciepluch and Oleg Stratiev.