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ROCHESTER, N.Y., Dec. 6 (UPI) -- ITT has signed an agreement to buy the business operations of Virginia's EchoStorm Worldwide, expanding ITT's geospatial intelligence portfolio.
The transaction is expected to close by early next year. The terms of the deal weren't disclosed.
"Adding EchoStorm's employees and their robust customer relationships to our business will reinforce our already strong position in the airborne intelligence, surveillance and reconnaissance market," said ITT Geospatial Systems President Chris Young. "Their Web-based software application for providing full-motion video over a secure, password-protected network meshes well with our imagery technology, providing ITT innovative solutions for our military customers and new opportunities in the security, healthcare and entertainment markets."
EchoStorm 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.
ITT said EchoStorm's business assets will be integrated into ITT Geospatial Systems' Night Vision & Imaging business area.
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