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ITT To Buy Nova Analytics

Defense contractor ITT Corp. said Wednesday it agreed to buy Nova Analytics Corp., a privately held maker of analytical instruments, for an undisclosed price.

WHITE PLAINS, N.Y. (AP) -- Defense contractor ITT Corp. said Wednesday it agreed to buy Nova Analytics Corp., a privately held maker of analytical instruments.

Financial terms were not disclosed. Nova's instruments are used to analyze water and wastewater. They also have environmental, medical and food and beverage applications.

The deal "fits perfectly with ITT's strategy to expand into categories adjacent to our core businesses and build on our global leadership positions in water, wastewater and industrial process, and products for the food (and) beverage market," said Gretchen McClain, president of ITT Fluid and Motion Control group, in a statement.

The acquisition is expected to close in the first quarter. Nova had revenue of about $135 million in 2009 and employs about 725 people, ITT said.

Shares of ITT added a penny to $49.49 in midday trading.

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