June 13, 2000 |
Anaheim-based Odetics Inc. said Monday it has agreed to accept a reduction in the final payment from competitor Storage Technology Corp. in an amended settlement of their 4-year-old patent infringement lawsuit. Under the agreement, Storage Technology is paying $17.8 million rather than $20 million over two years to complete the settlement. "We've accepted a discounted amount, because they're paying early," Odetics chief operating officer Greg Miner said.
June 7, 2000 |
Iteris Inc., an Anaheim sensors technology firm, has shipped the first mass-production order of a video-based lane-change warning system to DaimlerChrysler in Europe for use on Mercedes-Benz's Actros commercial trucks. The AutoVue lane departure warning system was developed by Iteris and DaimlerChrysler to help eliminate accidents caused by unintended lane changes.
March 23, 2000 |
Odetics Inc., an Anaheim supplier of communications equipment and services, said it is postponing plans to spin off its Iteris Inc. unit because of volatility in the stock market. Earlier this week, Odetics had announced a two-day delay in its plans to distribute Iteris shares to Odetics shareholders. The unit makes traffic-management safety systems such as a device that warns drivers if their vehicles wander into another lane. Odetics shares fell 31 cents to $18.13.
March 22, 2000 |
Odetics Inc., an Anaheim supplier of communications equipment and services, said it is delaying the spinoff of its Iteris Inc. The spinoff had been scheduled for Tuesday, but shares now will probably be distributed to Odetics shareholders on Thursday, the parent company said in a press release. The spinoff is being treated as a tax-free exchange under a decision by the Internal Revenue Service, Odetics said.
February 19, 2000
Odetics Telecom, an Anaheim maker of timing and synchronization products, said Friday it has changed its name to Zyfer Inc., effective immediately. Zyfer, a wholly owned subsidiary of incubator Odetics Inc., said the new name reflects the company's direction toward network and mass media data security markets.
December 18, 1999 |
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.
December 3, 1999 |
Odetics Inc.'s Gyyr unit acquired the security products unit of Digital Processing Systems Inc. in a cash deal valued at $5.1 million over two years. Gyyr said products in the transaction include the Digital Detective and Watson digital security recorders. Gyyr produces electronic security equipment. Anaheim-based Odetics, which reported revenue of $83.4 million for the recent fiscal year, supplies communication equipment.