Odetics to Spin Off Software Firm Iteris
(Dow Jones)
Odetics Inc. said it expects to spin off its Iteris Inc. subsidiary, formerly known as Odetics ITS Inc., on March 21 for shareholders of record March 20.
Odetics, which is based in Anaheim, said it plans to complete the spinoff by means of a dividend distribution of all of its Iteris common stock to shareholders of Odetics Class A and Class B common stock.
Odetics is an Anaheim incubator for technology businesses and maker of telecommunications equipment. The subsidiary provides software solutions like video sensor systems to improve the safety and efficiency of vehicle transportation.
