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Article: ITT To Acquire Kodak's Remote Sensing Business; Adds High Resolution Capabilities.
- Article from:
- Defense Daily
- Article date:
- February 10, 2004
CopyrightCOPYRIGHT 2004 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Calvin Biesecker
ITT Industries [ITT] yesterday said it has agreed to acquire the satellite sensors and services business of Eastman Kodak [EK] for $725 million in cash, a deal that complements its current infrared satellite payload business by adding high resolution imaging and imaging information processing capabilities.
With the combination ITT "will be a world leader in developing and integrating a full spectrum of space-based sensors and image information processing services for science, government and commercial applications," Henry Driesse, president of ITT's Defense Electronics & Services segment, said in a statement. ITT said it would create ...