Odetics Subsidiary to Go Public as Iteris Inc.

A subsidiary of Odetics Inc., an Anaheim incubator for technology businesses and maker of telecommunications equipment, filed documents Friday to go public with an initial offering of $50 million worth of common shares. The company said in a Securities and Exchange Commission filing that its Odetics ITS Inc. subsidiary will reincorporate next month as Iteris Inc. and will offer an undetermined number of shares under the Iteris name. Odetics now owns 93% of the subsidiary, which provides software solutions like video sensor systems to improve the safety and efficiency of vehicle transportation. Proceeds from the offering will be used to repay debt owed to Odetics, expand sales and marketing activities, acquire or invest in complimentary businesses for working capital and other general purposes.