ITT to Acquire YSI Inc., Strengthen Water Business

ITT Corporation (NYSE: ITT) has reached an agreement to acquire YSI Incorporated,  who develops and manufactures data collection platforms, software and sensors for environmental water monitoring.

YSI had 2010 global revenues of $101 million and employs 390 people in the U.S., Europe and Asia.

The acquisition is expected to close in the 3rd quarter 2011 and is pending customary closing conditions and approval from YSI’s shareholders.

ITT’s analytics unit produces field, portable, laboratory and online instruments for water and waste water, environmental, medical, and food and beverage applications.

“The addition of YSI is the next logical step in our strategy to acquire attractive companies whose businesses complement our existing water portfolio, ” said Gretchen McClain, president of ITT’s fluid and motion control business. “We see very compelling growth characteristics in the analytical instrumentation market.”

ITT plans to separate its water businesses into a standalone company later this year. McClain will be the new water company’s chief executive.

“As we move toward the formation of our new water company, the addition of YSI further builds on our attractive analytics business and our commitment to provide the best solutions to the challenges our customers face across the water industry, ” she said.

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