ITT to buy Kodak's sensor business
Company officials say the move expands ITT's space business among government agencies.
ITT Industries Inc. will buy Eastman Kodak Co.'s Remote Sensing Systems business for $725 million. The move expands ITT's space business for the military and civilian government agencies, according to ITT officials.
The RSS division is a major supplier of high-resolution satellite imaging systems and related image information processing services. According to ITT officials, the combination of RSS and ITT will create a full-spectrum satellite payload provider with the latest visible and infrared satellite imaging technology.
"RSS has strong customer relationships, a reputation for quality and many innovative technologies," said Henry Driesse, president of ITT Industries Defense Electronics and Services, in a statement.
ITT plans to create a new Space Systems Division based on the combination of RSS technology with ITT's existing meteorological and navigational systems, he said.
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