WHITE PLAINS, N.Y., and YELLOW SPRINGS, OHIO, July 11, 2011 — ITT Corporation (NYSE: ITT) and privately held YSI Incorporated today announced that they have entered into a definitive agreement for ITT to acquire, via merger, YSI, a leading developer and manufacturer of sensors, instruments, software, and data collection platforms for environmental water monitoring.
The financial terms of the proposal were not disclosed. YSI had 2010 global revenues of $101 million and employs 390 people at several facilities in the U.S., Europe and Asia. Completion of the acquisition is expected in the third quarter 2011, pending customary closing conditions and approval from YSI’s shareholders.
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