Bendix Buying Lane-Departure Warning From Iteris

Bendix Commercial Vehicle Systems is buying certain assets, including SafetyDirect software and the Lane Departure Warning System, from Iteris.

Bendix and parent company Knorr-Bremse plan to incorporate the technologies and associated research, development, sales and service operations into their electronics business units, which also includes safety technologies such as the Bendix ESP Electronic Stability Program, Bendix Wingman Advanced and SmarTire tire pressure monitoring system by Bendix CVS.

The Iteris Vehicle Sensors business, which Bendix is buying, for $14 million, includes a portfolio of vehicle active safety systems including lane departure warning, forward collision warning, and blind spot warning, as well as SafetyDirect software that analyzes real-time driver performance.

Iteris is selling this part of its business so it can concentrate energy and resources in the growing Traffic Management Market, and provides additional funding to pursue new growth initiatives in that market.

The deal is for $14 million, plus potential performance and royalty-related earn-outs, subject to $2 million in holdbacks and adjustments based upon working capital at closing. The transaction is expected to close prior to Aug. 31.

Printer Friendly Version
Email This Story
RSS
Bookmark and Share

Supplier News: Related News

7/26/2011 – Bendix Buying Lane-Departure Warning From Iteris

Bendix Commercial Vehicle Systems is buying certain assets, including SafetyDirect software and the Lane Departure Warning System, from Iteris….
More

7/26/2011 – Eaton Second Quarter Earnings Per Share Increase 47%

Eaton Corp. announced net income per share of $0.97 for the second quarter of 2011, an increase of 47% over the $0.66 earned in the second quarter of 2010….
More

7/25/2011 – Navistar Opens Product Support Center in Woodridge, Ill.

Navistar unveiled a new 70,000-square-foot product support center in Woodridge, Ill….
More

7/21/2011 – Vipar HD’s Global Parts Network Adds Second Brake Facility

Global Parts Network, a wholly owned subsidiary of Vipar Heavy Duty, opened a new manufacturing center in South Bend, Ind., for remanufacturing and distributing truck brake shoes and related components….
More

7/19/2011 – Navistar Partsmart to be Sold Via Amazon.com

Navistar Parts now offers customers the option to order Partmart parts on Amazon.com….
More

7/15/2011 – Betts Spring Expands Spraydown Distribution to Trailer Market

Betts Spring Company has expanded its alliance with Crane Plastics to include the exclusive distribution rights of Spraydown Aero Guard Systems to North American trailer manufacturers and aftermarket distributors….
More

7/14/2011 – Hino Approves B20 Biodiesel

Hino Trucks’ complete product line of Class 4 and 5 cabover, and Class 6 and 7 conventional trucks are now approved to use up to B20 biodiesel,…
More

7/12/2011 – Daimler Truck Financial to Provide Financing Services to Mitsubishi Fuso

Daimler Truck Financial has reached an agreement with Mitsubishi Fuso Truck of America to begin providing financial products and services for more than 175 MFTA dealers and their customers in the United States….
More

7/8/2011 – Cummins Pays $500,000 in Penalties to California, EPA

The California Air Resources Board today announced that Cummins paid $500,000 for failing to properly retest its engines already in use….
More

7/1/2011 – GITI Tire Opens Distribution Center in Tennessee

GITI Tire USA has opened a distribution center in Portland, Tenn., to help support the company’s growing footprint in the U.S….
More

7/1/2011 – J.D. Power: Recent Class 8 Truck Quality May Temper Future Customer Satisfaction Gains

According to a study by J.D. Power and Associates, a coming ramp-up in production plus the release of new 2010 EPA-compliant engines may negatively impact truck quality.

Overall quality of heavy-duty trucks has improved substantially in 2011, compared with 2010, but whether these quality gains can be sustained in the face of greater production and new emissions regulations remains in question, according to the J.D. Power and Associates 2011 U.S. Heavy-Duty Truck Customer Satisfaction Study….
More

6/30/2011 – Navistar Donates Vehicle To Assist In Alabama Rebuilding Efforts

Navistar donated a used step van valued at $20,000 to the Hale Empowerment and Revitalization Organization in Hale County, Alabama, to assist rebuilding efforts in the wake of the devastating tornadoes….
More

6/29/2011 – Westport Signs Agreement with GM to Research Natural Gas Engine Tech for Light-Duty Vehicles

Westport Innovations has entered into an agreement with General Motors to help develop advanced natural gas engine technology….
More

6/23/2011 – Alcoa Expands Wheel and Transportation Products Division

Alcoa Wheel and Transportation Products announced several personnel changes as part of an ongoing effort to expand business both internationally and into new market segments….
More

6/23/2011 – Accuride Buys Forgitron; S.C. Facility to Product Truck Wheels

Accuride Corp. has acquired substantially all of the assets of Forgitron Technologies LLC, including an 80,000-square-foot forged aluminum wheel manufacturing facility in Camden, S.C….
More

6/22/2011 – Navistar Awarded Diesel Re-Power Development Contract for USPS

Navistar has been awarded a development contract by the United States Postal Service under which Navistar will engineer a diesel powertrain replacement for USPS delivery vehicles….
More

6/15/2011 – Descartes Acquires Telargo

Descartes Systems Group, a logistics technology company, has acquired privately held Telargo, a provider of telematics solutions….
More

JOIN OUR NEWSLETTER
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.