ITT to Acquire SRA

25.09.2010 North America
ITT to Acquire SRA

ITT to Acquire SRA

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ITT Corporation announced it has reached a definitive agreement with SRA International, Inc. under which ITT will acquire SRA's Airport Operations Solutions (AOS) group, a leading provider of airport solutions in North America since 1974.
Today more than 50 major airports enjoy the operational benefits of AOS's secure centrally managed web-based airport operation management platform, AirScene.com, which provides critical airport business functions such as revenue, surface operations and noise management. 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, Virginia.; Austin, Texas; and Boston, Massachussetts.

"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."

ITT recently launched its commercial aviation data service that is positioned to be a single, trusted source of nationwide real-time surveillance and flight information which, when integrated with a suite of aviation business intelligence applications, can be used to optimize and streamline operations of airport operators, airlines, and aviation service companies.

The terms of the agreement were not disclosed. The transaction is expected to close within the 4th quarter of 2010, pending regulatory approvals.

source: asdnews

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