WHITE PLAINS, N.Y., 28 Aug. 2007. ITT Corp. in White Plains, N.Y., is acquiring Dolphin Technology Inc. in Rome, N.Y., which develops information-assurance technologies for military, intelligence, and law-enforcement networks.
The acquisition enhances ITT's portfolio in the cyber technology and intelligence applications, company officials say.
Dolphin Technology employs 100 people, and recorded approximately $15 million in sales in 2006. The transaction is subject to standard closing conditions and is expected to close in the third quarter.
"This acquisition positions ITT to compete for a number of new programs, including those in the intelligence community and cyber forensics," says Steve Gaffney, president of ITT Defense Electronics & Services. "With Dolphin, our combined expertise in research, development and operation of secure information sharing systems ensures that we will be able to best serve the growing technology needs of our customers."
for more information contact ITT online at www.itt.com.