Mergers and Acquistions News
Categories: IT Services & Consulting, Software
July 11th 2011, 18:10PM
Engineering and manufacturing company ITT is set to acquire privately held software developer YSI for an undisclosed fee.
YSI is a leading manufacturer of equipment and data collection platforms for environmental water monitoring and will aid the operations of ITT's new standalone water company.
"The addition of YSI is the next logical step in our strategy to acquire attractive companies whose businesses complement our existing water portfolio," said Gretchen McClain, president of ITT's Fluid and Motion Control business.
"As we move toward the formation of our new water company, the addition of YSI further builds on our attractive analytics business and our commitment to provide the best solutions to the challenges our customers face across the water industry."
The deal is expected to be completed in the third quarter of 2011, pending approval from YSI's shareholders.
YSI posted global revenues of $101 million (£63.5 million) last year and employs 390 people at several facilities across the world. 
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)