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news.ITT Corporation has acquired OI Corporation for $29m, as part of its plans to expand its presence in global analytical instrumentation market.
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The acquisition is likely to enhance ITT’s Analytics business, formed earlier this year with the acquisition of Nova Analytics.
ITT Analytics is a manufacturer of field, portable, laboratory and online analytical instruments used in water and wastewater, environmental, medical, and food and beverage applications.
ITT Analytics president Chris McIntire said the addition of OI to their existing portfolio supports strategy to acquire attractive companies to grow their presence in the $6bn global analytical instrumentation market.
“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 said.
Founded in 1963, OI specialises in total organic carbon (TOC) analyzers and gas-chromatography related instrumentation, as well as consumables and services.