ITT to buy Kodak's sensor business

ITT Industries Inc. will buy Eastman Kodak Co.'s Remote Sensing Systems business for $725 million. The move expands ITT's space business for the military and civilian government agencies, according to ITT officials.

The RSS division is a major supplier of high-resolution satellite imaging systems and related image information processing services. According to ITT officials, the combination of RSS and ITT will create a full-spectrum satellite payload provider with the latest visible and infrared satellite imaging technology.

"RSS has strong customer relationships, a reputation for quality and many innovative technologies," said Henry Driesse, president of ITT Industries Defense Electronics and Services, in a statement.

ITT plans to create a new Space Systems Division based on the combination of RSS technology with ITT's existing meteorological and navigational systems, he said.

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