Thursday, July 28, 2011

Inrix Looks To Buy UK Firm

Kirkland-based INRIX, the provider of real time traffic information, said today that it has launched an offer to acquire UK-based ITIS Holdings. ITIS holdings is a provider of traffic information in Europe. INRIX said it has offered to pay $60M for ITIS, which it says has $27M in revenue, 70 customers, and 155 employees. Inrix said that, pending approval by ITIS shareholders, it expects the deal to close in late August.