ITT (NYSE: ITT) has finalized its planned purchase of EchoStorm Worldwide’s business operations.
Terms of the acquisition were not disclosed.
According to ITT, “EchoStorm, founded in 2003, provides 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.”
“Today’s full motion video users are drowning in data, and need effective software to manage, share and analyze that information, ” said Bruce Wald, vice president of the firm’s Night Vision & Imaging business. “EchoStorm’s proven solutions for full-motion video give operators easy, fast and cost-effective access to critical video and data in real-time, thereby reducing lengthy analysis and putting actionable intelligence in the hands of end users more rapidly.”