Inrix announces £37 million offer to acquire UK-based Itis Holdings

Inrix, a provider of real-time traffic information and connected driving services, has announced it has extended an offer to Itis Holdings and its shareholders to acquire the company for £37 million.

“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.”

Through the acquisition, Inrix is positioned to benefit from the convergence of automotive, mobile and public sector efforts to leverage the latest smart devices, data analytics and connectivity technologies for improving how the world’s one billion drivers travel from place to place.

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