ITT Corporation (NYSE:ITT) has an agreement in place with SRA International, Inc. (NYSE:SRX) to acquire SRA’s Airport Operations Solutions (AOS) group.
According to ITT, “the AOS group reported revenue of approximately $3.5 million in the 12 months ended June 30, 2010 and employs 17 full-time people located in Herndon, Va.; Austin, Texas; and Boston, Mass.”
ITT feels that the group will be a good fit culturally for the firm.
“The AOS group’s strong customer relationships and deep operational experience, coupled with a proven suite of web-based applications, complements ITT’s culture of providing superior solutions through engineering innovation, ” said Dave Melcher, president of ITT Defense and Information Solutions. “The addition of the AOS group will strengthen ITT’s business portfolio as we accelerate our commercial strategy for growth in the air traffic management industry.”