ITT to Purchase Business Operations Of EchoStorm Worldwide

ITT Corporation ITT today has announced its agreement to purchase the business operations of EchoStorm Worldwide. The privately held EchoStorm delivers innovative video and data management technology for military, government, and commercial applications. EchoStorm, founded in 2003, provides a suite of secure, net-centric commercial products that enables users to capture, manage, and disseminate full-motion video in near real time, as well as address the common issues involved with system interoperability and bandwidth. The transaction is expected to close by early 2011 and is not expected to materially impact ITT's sales or earnings per share for 2010 or 2011. Terms of the deal were not disclosed.