ITT (NYSE: ITT) has a deal in place to purchase the business operations of EchoStorm Worldwide, a firm specializing in video and data management technology.
According to the firm, EchoStorm offers “a suite of secure, net-centric commercial products that enables users to capture, manage, and disseminate full-motion video in near real time, as well as address the common issues involved with system interoperability and bandwidth.”
The move will boost ITT’s geospatial business offering.
“Adding EchoStorm’s employees and their robust customer relationships to our business will reinforce our already strong position in the airborne intelligence, surveillance and reconnaissance market, ” said Chris Young, president of ITT Geospatial Systems. “Their web-based software application for providing full-motion video over a secure, password-protected network meshes well with our imagery technology, providing ITT innovative solutions for our military customers and new opportunities in the security, healthcare and entertainment markets.”