ITT Industries Completes Acquistion of EDO Corporation
In a major addition to its products and capabilities, ITT Industries completed the acquisition of EDO Corporation on December 20th. The total price of the transaction was about $1.7 billion as the EDO shares were valued at $56. EDO over the last six year also had been aggressively acquiring companies to increase the span of their business line. EDO does have complimentary products with ITT in the areas of electronic warfare. This acquisition will also expand ITT’s reach into Huntsville, Alabama where the US Army’s Aviation and Missile Command (AMCOM) is located.
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