ITT Buys Kodak’s Remote Sensing Business
ITT Industries Inc. [ITT] completed the purchase of the Remote Sensing Systems (RSS) business from Eastman Kodak Co. [EK] for $725 million in cash. According to the buyer, the acquisition significantly broadens the company’s space payload and service product offering for U.S. military as well as for other government, commercial and scientific customers. ITT said the addition of the RSS business will create a full-spectrum satellite payload provider with the latest visible and infrared satellite imaging technology to serve the $6 billion remote-sensing market.
More on this acquisition can be found in the Sept. 1 issue of Satellite News’ Government Procurement Report. For more information about subscribing to Access Intelligence’s satellite newsletters, check out our Web site at http://www.satellitetoday.com.