ITT Acquires O.I. Corporation
On November 16th, the ITT Corporation (White Plains, New York) acquired O.I. Corporation for a reported $29 million. The acquisition will enhance ITT?s analytical instrumentation business, which was started earlier this year.
On November 16th, the ITT Corporation (White Plains, New York) acquired O.I. Corporation for a reported $29 million. The acquisition will enhance ITT’s analytical instrumentation business, which was started earlier this year.
According to the company’s press release, OI is, the leading provider of innovative instrumentation for laboratory and environmental testing in the pharmaceutical, petrochemical, power and industrial markets.
Founded in 1963, OI specializes in innovative total organic carbon (TOC) analyzers and gas chromatography-related instrumentation.
“The addition of OI to our existing portfolio supports our strategy to acquire attractive companies to grow our presence in the $6 billion global analytical instrumentation market,” said Chris McIntire, president of ITT Analytics.
“Combining OI with our own product offering allows us to expand our technical expertise to serve our instrumentation customers, and will enable us to better serve our global customers,” McIntire added.
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