ITT Corp. [ITT] yesterday completed its acquisition of EDO Corp. for $1.7 billion, which includes the assumption of debt, giving it a range of new aerospace and defense capabilities. The deal was expected to close early next year. EDO gives ITT new capabilities in counter-improvised explosive device systems and technology, weapons release systems, anti-submarine warfare, mine countermeasures, tactical networking communications, antennas, composites and structures and more.
ITT Completes Purchase of EDO
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