# ITT Inc. > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/ITT_Inc. > Markdown URL: https://mediated.wiki/source/ITT_Inc..md > Source: https://en.wikipedia.org/wiki/ITT_Inc. > Source revision: 1355300241 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{Short description|American worldwide manufacturing company}} {{Other uses|ITT (disambiguation)}} {{Use American English|date=May 2026}} {{Use mdy dates|date=May 2026}} {{Infobox company | name = ITT Inc. | logo = 200px | type = [Public](/source/Public_company) | traded_as = {{nyse|ITT}}
[S&P 400 Component](/source/List_of_S%26P_400_companies) | former_names = International Telephone and Telegraph Corporation (1920-1983)
ITT Corporation (1983-1995)
ITT Industries, Inc. (1996-2006)
ITT Corporation (2006-2016) | founded = {{start date and age|1920|06|16}} | founder = [Hernan Behn](/source/Hernan_Behn)
[Sosthenes Behn](/source/Sosthenes_Behn) | successor = | location = [Stamford, Connecticut](/source/Stamford%2C_Connecticut), United States | area_served = Worldwide | key_people = Luca Savi (CEO and president) | industry = [Industrial manufacturer](/source/Manufacturer)
(historically, a [telecommunications](/source/telecommunications) [conglomerate](/source/Conglomerate_(company))) | products = [Aerospace](/source/Aerospace), [transportation](/source/transportation), [energy](/source/energy) and industrial components | revenue = {{increase}} [US$](/source/United_States_Dollar)2.988 billion (2022){{cite web |url=https://investors.itt.com/static-files/1b978b41-551e-4e7a-b7f0-9e5d9ed836a8 |title=ANNUAL REPORT 2022 |publisher=ITT |format=pdf |date=February 15, 2022 |access-date=November 17, 2023 |archive-date=November 15, 2023 |archive-url=https://web.archive.org/web/20231115162834/https://investors.itt.com/static-files/1b978b41-551e-4e7a-b7f0-9e5d9ed836a8 |url-status=dead }} | operating_income = {{decrease}} US$468.0 million (2022) | net_income = {{increase}} US$367.0 million (2022) | assets = {{increase}} US$1.8368 billion (2022) | equity = {{increase}} US$2.248 billion (2022) | num_employees = >10,000 (2022) | divisions = [ITT Interconnect Solutions](/source/ITT_Interconnect_Solutions) | website = {{URL|https://www.itt.com/|itt.com}} }} '''ITT Inc.''', formerly '''ITT Corporation''',{{cite web |url=http://www.itt.com/About/History/ |title=ITT History |publisher=ITT Inc. |access-date=2017-08-02 |url-status=live |archive-url=https://web.archive.org/web/20170803092556/http://www.itt.com/About/History/ |archive-date=2017-08-03 }} is an American [manufacturing company](/source/manufacturing_company) based in [Stamford, Connecticut](/source/Stamford%2C_Connecticut). The company produces specialty components for the aerospace, transportation, energy, and industrial markets. ITT's three business units are Industrial Process, Motion Technologies, and Connect and Control Technologies.{{Cite web|url=https://www.itt.com/investors/at-a-glance|title=At a Glance|publisher=ITT Inc.|access-date=2019-01-09|archive-date=2020-10-01|archive-url=https://web.archive.org/web/20201001122758/https://www.itt.com/investors/at-a-glance|url-status=dead}} ITT has over 10,000 employees in more than 35 countries and serves customers in more than 100 countries. The company's long-standing brands include Goulds Pumps, Cannon connectors, KONI shock absorbers, and Enidine energy absorption components.{{Cite web |url=https://www.itt.com/CMSPages/GetFile.aspx?guid=10cffa55-7c3c-4e27-b649-d0378feddc07 |title=ITT 2017 Annual Report |publisher=ITT Inc. |access-date=2019-01-09 |archive-date=2020-10-01 |archive-url=https://web.archive.org/web/20201001124532/https://www.itt.com/CMSPages/GetFile.aspx?guid=10cffa55-7c3c-4e27-b649-d0378feddc07 |url-status=dead }} The company was founded on June 16, 1920 as '''International Telephone & Telegraph Corporation (I.T. & T.)''' in Maryland.{{Cite news |last=Bachrach |first=Fabian |date=1957-06-07 |title=Sosthenes Behn Is Dead at 75; Headed I.T. & T. for 34 Years; Co-Founder and Ex-President of Communications Empire Was Expert on Finance Twenty Years of Trials Defeated Competition |url=https://www.nytimes.com/1957/06/07/archives/sosthenes-behn-is-dead-at-75-headed-it-t-for-34-years-cofounder-and.html |access-date=2026-02-27 |work=The New York Times |language=en-US |issn=0362-4331}} ITT divested its telecommunications assets in 1986. In 1995, the company sold off its hospitality portfolio, including [Sheraton Hotels and Resorts](/source/Sheraton_Hotels_and_Resorts). In 1996, the current company was founded as a spinoff of ITT as '''ITT Industries, Inc.''' It later changed its name to '''ITT Corporation''' in 2006. In 2011, ITT spun off its defense businesses into a company named [Exelis](/source/Exelis_Inc.) (now part of [L3Harris Technologies](/source/L3Harris_Technologies)), and its water technology business into a company named [Xylem Inc.](/source/Xylem_Inc.){{cite news | url=https://www.reuters.com/article/us-itt-idUSTRE70B43520110113 | publisher=Reuters | title=ITT to break itself up, fueling share rally | date=January 12, 2011 | access-date=July 14, 2011 | url-status=live | archive-url=https://web.archive.org/web/20120701010537/http://www.reuters.com/article/2011/01/13/us-itt-idUSTRE70B43520110113 | archive-date=July 1, 2012 }}{{cite news | url=https://www.reuters.com/article/itt-idUKN1E76D0BO20110714 | publisher=Reuters | title=UPDATE 1-ITT sets names for planned spin-offs | date=July 14, 2011 | access-date=July 14, 2011 | first=Karen | last=Jacobs | url-status=live | archive-url=https://web.archive.org/web/20120701024008/http://www.reuters.com/article/2011/07/14/itt-idUKN1E76D0BO20110714 | archive-date=July 1, 2012 }} ITT Corporation changed its name to '''ITT Inc.''' in 2016. ==History== ===Beginnings and early acquisitions=== Following their military service, brothers and former sugar brokers Lt. [Hernand Behn](/source/Hernan_Behn){{Cite book |url=https://www.google.ca/books/edition/The_National_Cyclopaedia_of_American_Bio/B-EpAQAAMAAJ?hl=en&gbpv=1&bsq=Hernand+Behn+February+19,+1880+Saint+Thomas&dq=Hernand+Behn+February+19,+1880+Saint+Thomas&printsec=frontcover |title=The National Cyclopaedia of American Biography |date=1971 |publisher=J.T. White |language=en}} and Colonel [Sosthenes Behn](/source/Sosthenes_Behn) formed International Telephone & Telegraph (ITT) in 1920. Hernand served as its first president,{{Cite book |url=http://archive.org/details/cubarevie19muns |title=The Cuba Review: Direct Telephone Line Between Cuba and the United States, |date=January 1921 |publisher=Munson Steamship Line |year=1921 |volume=XIX |location=[New York City](/source/New_York_City) |pages=16 |issue=No. 2}} leading the company until his death in 1933,{{Cite news |title=HERNAND BEHN LEFT ESTATE OF $278,516; Telephone Official's Brother Receives Residue After $25,000 to Widow. |url=https://timesmachine.nytimes.com/timesmachine/1936/06/30/93522630.html |access-date=2026-03-04 |work=The New York Times |page=9 |language=en |issn=0362-4331}} and growing its assets to over $500 million.{{Cite web |title=Hernand Behn - Leadership - Harvard Business School|url=https://www.hbs.edu/leadership/20th-century-leaders/details?profile=hernand_behn|access-date=2026-03-03|website=www.hbs.edu}} Sosthenes served as a second vice-president, and later as chairman. Previously, the brothers had first acquired the bankrupt [Puerto Rico Telephone Company](/source/Puerto_Rico_Telephone_Company), as settlement for a bad debt, in 1914, along with the Cuban-American Telephone and Telegraph Company and a half-interest in the Cuban Telephone Company.{{cite book|last=Sobel|first=Robert|title=ITT: The Management of Opportunity|publisher= HarperCollins|pages=103-4, 134|title-link=ITT: The Management of Opportunity|isbn=1-893122-44-1|location=Washington, DC|date=1982}}{{cite book|last=Macintosh|first=Norman B.|title=Management Accounting and Control Systems|year= 2009 |publisher= John Wiley and Sons|pages=155–6|author2=Paolo Quattrone}}{{cite book |last= Ingham|first=John N.|title=Biographical dictionary of American business leaders, Volume 1|year= 1983 |publisher= Greenwood Publishing Group|pages=62–4}} ITT's first major expansion came in 1923, when it consolidated operators in the telecoms market in Spain into what eventually became [Telefónica](/source/Telef%C3%B3nica).Sampson, Anthony. ''The Sovereign State of ITT, Hodder and Stoughton'', 1973. {{ISBN|0-340-17195-2}}Garcia Algarra, Javier (2010). [https://ieeexplore.ieee.org/document/5735280/;jsessionid=D68A01A68C303DF2D5AA74A0DF38756C?arnumber=5735280 "The American influence in Telefónica's public relations strategy during the 20s and 30s"], IEEE HISTELCON 2010 During the 1920s, ITT acquired European and American telephone companies, including International Western Electric (AT&T's European-based manufacturer of telephonic equipment), in 1925, for $30 million, renaming it International Standard Electric Corp.; All-American Cables, Inc.; Commercial Cable Co.; telegraph company Postal Telegraph and Cable Corp.; and radio company Mackay Radio and Telegraph Co.{{Cite web |title=Shadow box |url=https://army.togetherweserved.com/army/servlet/tws.webapp.WebApp?cmd=LegacySBV&type=Person&ID=231206 |access-date=2026-03-04 |website=army.togetherweserved.com}}{{Cite web |title=International Telephone & Telegraph Corporation {{!}} The Telecommunications History Group, Inc. |url=https://www.telcomhistory.org/historiesITT.html |access-date=2026-03-04 |website=www.telcomhistory.org}} In July 1924, the company was awarded the Spanish telephone service contract, and established Compania Telefonica Nacional de Espana SA (CTNE). In 1925, ITT purchased several companies from [Western Electric](/source/Western_Electric), as [Bell](/source/Bell_System) had agreed to "divest" itself of its international operations. They included the [Bell Telephone Manufacturing Company](/source/Bell_Telephone_Manufacturing_Company) (BTM) of Antwerp, Belgium, which manufactured [rotary system](/source/rotary_system) switching equipment, and the British ''International Western Electric'', which was renamed [Standard Telephones and Cables](/source/Standard_Telephones_and_Cables) (STC). [Compagnie Générale d'Electricité](/source/Compagnie_G%C3%A9n%C3%A9rale_d'Electricit%C3%A9) later purchased BTM; [Nortel](/source/Nortel) later purchased STC. In 1930, ITT acquired a German holding company, Standard Elektrizitäts-Gesellschaft (SEG), with its subsidiaries, Ferdinand Schuchardt Berliner Frensprech-und-Telegraphenwerk, A. G., Suddeutsche Apparate Fabrik G.m.b.H., Nuremburg and [Mix & Genest](/source/Mix_%26_Genest).{{Cite book |last=Sutton |first=Antony C. |url=https://books.google.ca/books?id=Q0amI9GmIe8C&printsec=frontcover#v=onepage&q=Genest&f=false |title=Wall Street and the Rise of Hitler |date=2010-01-01 |publisher=CLAIRVIEW BOOKS |isbn=978-1-905570-27-0 |pages=77-85, 123 |language=en}} It acquired Romanian telecommunications monopoly [Societatea Anonima Română de Telefoane](/source/Romtelecom). Its only serious rival was the [Theodore Gary & Company](/source/Theodore_Gary_%26_Company) conglomerate, which operated a subsidiary, Associated Telephone and Telegraph, with manufacturing plants in Europe. In the United States, ITT acquired the various companies of the [Mackay Companies](/source/Mackay_Radio) in 1928 through a specially organized subsidiary corporation, [Postal Telegraph & Cable](/source/Postal_Telegraph_Company). These companies included the [Commercial Cable Company](/source/Commercial_Cable_Company), the [Commercial Pacific Cable Company](/source/Commercial_Pacific_Cable_Company), [Postal Telegraph](/source/Postal_Telegraph), and the [Federal Telegraph Company](/source/Federal_Telegraph_Company). thumb|200px|75 Broad Street, Manhattan, former headquarters of ITT thumb|200px|Detail of door === German subsidiaries in the Nazi period === On August 3, 1933, [Adolf Hitler](/source/Adolf_Hitler) received [Sosthenes Behn](/source/Sosthenes_Behn) (then the CEO of ITT[ITT](/source/ITT_Inc.)) and his German representative, Henry Mann, in one of his first meetings with US [businesspeople](/source/Businessperson).{{Cite news |last=TIMES |first=Wireless to THE NEW YORK |date=1933-08-04 |title=AMERICAN VISITS HITLER.; Behn of National City Bank Con- fers With Chancellor in Alps. |url=https://www.nytimes.com/1933/08/04/archives/american-visits-hitler-behn-of-national-city-bank-con-fers-with.html |access-date=2026-02-27 |work=The New York Times |language=en-US |issn=0362-4331 |quote=Aug. 3.-Chancellor Hitler, who is resting at his mountain retreat on the Salzberg, today received Sosthenes Behn, a director of the National City Bank of New York, and Henry Mann, its resident vice president for Germany.}}»Empfänge beim Reichskanzler«, ''Vossische Zeitung'', Berlin 1933-08-04, Abendausgabe, Seite 3, {{cite web |url= http://zefys.staatsbibliothek-berlin.de/dfg-viewer/?set%5Bimage%5D=3&set%5Bzoom%5D=max&set%5Bdebug%5D=0&set%5Bdouble%5D=0&set%5Bmets%5D=http%3A%2F%2Fzefys.staatsbibliothek-berlin.de%2Foai%2F%3Ftx_zefysoai_pi1%255Bidentifier%255D%3D5ce888cb-9b7f-4738-acd3-f8170a34e3b9 |title= Vossische Zeitung Berlin 1933-08-04 |access-date=2013-05-03 |url-status=dead |archive-url= https://web.archive.org/web/20140307025835/http://zefys.staatsbibliothek-berlin.de/dfg-viewer/?set%5Bimage%5D=3&set%5Bzoom%5D=max&set%5Bdebug%5D=0&set%5Bdouble%5D=0&set%5Bmets%5D=http%3A%2F%2Fzefys.staatsbibliothek-berlin.de%2Foai%2F%3Ftx_zefysoai_pi1%255Bidentifier%255D%3D5ce888cb-9b7f-4738-acd3-f8170a34e3b9 |archive-date=2014-03-07 }} Subsequently, Sosthenes Behn came into contact with the [Keppler's circle](/source/Keppler_circle) of German bankers and businessmen who formed an inner circle of support for Hitler. [Kurt Baron von Schröder](/source/Kurt_Baron_von_Schr%C3%B6der) and [Emil Heinrich Meyer](/source/Emil_Heinrich_Meyer) joined the ITT board, with Schröder becoming a conduit of funds from ITT to [Heinrich Himmler](/source/Heinrich_Himmler)'s [SS organization](/source/Schutzstaffel), according to author [Antony C. Sutton](/source/Antony_C._Sutton), in his book, ''Wall Street and the Rise of Hitler''. ITT subsidiaries reportedly made cash payments to [SS](/source/Schutzstaffel) leader Himmler. ITT, through its subsidiary [C. Lorenz AG](/source/C._Lorenz_AG), owned 25% of [Focke-Wulf](/source/Focke-Wulf), the German aircraft manufacturer and builder of some of the most successful [Luftwaffe](/source/Luftwaffe) fighter aircraft. In the 1960s, ITT Corporation won $27 million in compensation for damage inflicted on its share of the Focke-Wulf plant by [Allied](/source/Allies_of_World_War_II) bombing during [World War II](/source/World_War_II). In addition, Sutton's book uncovers that ITT owned shares of ''Signalbau AG, Dr. Erich F. Huth'' (Signalbau Huth), which produced for the German [Wehrmacht](/source/Wehrmacht) [radar](/source/radar) equipment and [transceiver](/source/transceiver)s in [Berlin](/source/Berlin), [Hanover](/source/Hanover) (later the [Telefunken](/source/Telefunken) factory), and other places. While ITT-Focke-Wulf planes were bombing Allied ships and ITT lines were passing information to German submarines, ITT direction-finders were saving other ships from torpedoes.The Office of Military Government US Zone in Post-war Germany 1946-1949, declassified per Executive Order 12958, Section 3.5 NND Project Number: NND 775057 by: NND Date: 1977 The payments to Himmler were noted in a 1946 banking investigation report by the Office of Military Government, United States.{{Cite web |last1=Adams |first1=Foster |last2=Lang |first2=Emil |date=March 1, 1946 |title=OMGUS, Finance Division, Bank Investigation Report: Baron Kurt von Schroeder |url=https://catalog.archives.gov/id/77304102?objectPage=20 |access-date=March 7, 2024 |website=National Archives Catalog}} After merging [Federal Telephone and Radio Corporation](/source/Federal_Telephone_and_Radio_Corporation) into ITT Kellogg, in 1940, and combining manufacturing operations, the name again changed to '''ITT Telecommunications''', eventually reverting to '''ITT Kellogg'''. That year, Hernand Behn, son of ITT's deceased co-founder, was reported as being transferred to Buenos Aires by the company.{{Cite news |date=November 20, 1940 |title=MISS LAGARRIGUE WED; French Girl Bride of Hernand Behn in St. Patrick's Cathedral |url=https://timesmachine.nytimes.com/timesmachine/1940/11/20/113117366.html |access-date=2026-03-05 |work=The New York Times |page=24 |language=en |issn=0362-4331}} In 1943, ITT became the largest shareholder of Focke-Wulf Flugzeugbau GmbH with 29% and remained so for the duration of the war. This was due to [Kaffee HAG](/source/Caf%C3%A9_HAG)'s share falling to 27% after the death in May of Kaffee HAG chief [Dr. Ludwig Roselius](/source/Ludwig_Roselius). [OMGUS](/source/OMGUS) documents reveal that the role of the HAG conglomerate could not be determined during WWII.Leidig, Ludwig. Bombshell. sbpra, 2013 {{ISBN|978-1-62516-346-2}} === Post-war activity and acquisitions === Major General [William H. Harrison](/source/William_Henry_Harrison_(businessman)) served as president from 1948,{{Cite web |date=June 7, 1954 |title=CORPORATIONS: Revolt in I.T. & T. |url=https://time.com/archive/6609239/corporations-revolt-in-i-t-t/ |website=Time.com}} until his death in 1956, with Colonel Behn as chairman. In 1951, ITT purchased [Philo Farnsworth](/source/Philo_Farnsworth)'s [television](/source/television) company to break into that market. At the time, Farnsworth was also developing the [Fusor](/source/Fusor) [fusion reactor](/source/Nuclear_fusion), which was funded by ITT until 1967.{{cite web|last1= Farnsworth|first1=Emma|title=Farnsworth, Philo T. and Elma G.|url= http://trove.nla.gov.au/work/23940752?q=+&versionId=28954127|publisher=J. Willard Marriott Library, University of Utah|access-date=8 July 2014|url-status=dead|archive-url= https://web.archive.org/web/20140714150139/http://trove.nla.gov.au/work/23940752?q=+&versionId=28954127|archive-date= 14 July 2014}} Also in 1951, ITT bought a majority interest in the [Kellogg Switchboard & Supply Company](/source/Kellogg_Switchboard_%26_Supply_Company) (founded in 1897 as a pioneer in "divided-multiple" [telephone switchboard](/source/telephone_switchboard)s) and bought the remaining shares the next year. ITT changed the company's name to ITT Kellogg. One prominent subsidiary of this firm was the [American Cable and Radio Corporation](/source/American_Cable_and_Radio_Corporation), which operated the [transatlantic cables](/source/Transatlantic_communications_cable) of the [Commercial Cable Company](/source/Commercial_Cable_Company), among other ventures. It bought [Philadelphia](/source/Philadelphia)-based heating and air-conditioning manufacturer John J. Nesbitt Inc. ===Community development=== In 1968 ITT acquired timberland company [Rayonier](/source/Rayonier) which owned over 30,000 acres (46.875 square miles) in Flagler County, Florida. ITT wanted more from their investment than the proceeds of wood pulp from slash pine trees. At the time, thousands of people were migrating to Florida from the [Rust Belt](/source/Rust_Belt), so management at ITT decided to create a destination with both housing and jobs for the transplants.{{cite web |title=THE NEW COMPANY TOWN IT’S CLEAN AND SPARKLY, HAS NO CRIME, NO OLD BUILDINGS AND NO HISTORY. IN FACT, THE NEWEST KIND OF CITY IN FLORIDA HAS NO REASON FOR BEING — EXCEPT CORPORATE PROFITS. IT MAY BE THE PERFECT PLACE TO LIVE. |url=https://www.orlandosentinel.com/1988/10/02/the-new-company-town-its-clean-and-sparkly-has-no-crime-no-old-buildings-and-no-history-in-fact-the-newest-kind-of-city-in-florida-has-no-reason-for-being-except-corporate-profits-it-may-be-the-perfec/ |website=orlandosentinel.com |publisher=Orlando Sentinel |access-date=9 April 2026}} ITT purchased tracts from 35 other owners to total 93,000 acres (145.3 square miles), the size of Cleveland or Detroit. From the start, ITT assumed that their financial resources would solve any problems encountered. There are failed developments all over Florida, but most are because of money problems. That same year, ITT purchased homebuilder [Levitt & Sons](/source/Levitt_%26_Sons) for a reported $91 million and established Palm Coast Construction Company, which built half the residences in the development. Dr. Norman Young led Levitt's marketing group, who planned the project and suggested the name, [Palm Coast](/source/Palm_Coast%2C_Florida). The development was conceived by ITT's Community Development Corporation (ITT-CDC) in the 1960s as a [master-planned community](/source/Planned_community) to transform 90,000 acres of wetlands and pine forest into a residential golf-centered city of 600,000{{cite web |last1=Nordheimer |first1=Jon |title=Disputed City: A Huge Wilderness Project in Florida |url=https://www.nytimes.com/1974/01/06/archives/disputed-city-a-huge-wilderness-project-in-florida.html |website=nytimes.com |publisher=New York Times |access-date=9 April 2026}}{{cite web |title=Palm Coast History Brief |url=https://www.palmcoasthistory.org/palm-coast-history/ |website=palmcoasthistory.org |publisher=Palm Coast Historical Society |access-date=9 April 2026}} or 750,000. [Sheraton Hotels and Resorts](/source/Sheraton_Hotels_and_Resorts) were acquired by ITT in 1968 for $200 in stock.{{cite web |last1=Hefferren |first1=Aileen C. |title=ITT Sheraton Corporation |url=https://www.encyclopedia.com/books/politics-and-business-magazines/itt-sheraton-corporation |website=encyclopedia.com |publisher=Encyclopedia dot Com |access-date=27 April 2026}}{{cite web |last1=Reckert |first1=Clare M. |title=SHERATON CORP. SOUGHT BY I.T.T.; Acquisition Pact Subject to Tax Ruling and Approval of Boards and Holders STOCKS REACH '67 HIGHS Deal Involves the Issuing of $200-Million in Preferred and Common Shares |url=https://www.nytimes.com/1967/10/26/archives/sheraton-corp-sought-by-itt-acquisition-pact-subject-to-tax-ruling.html |website=nytimes.com |publisher=New York Times |access-date=27 April 2026}} ITT built the Sheraton Palm Coast Resort in the early 1970s to house potential buyers for the Palm Coast development. It was a small hotel with 106 rooms, not a typical Sheraton property, and it was later demolished.{{cite web |last1=Reichenbacher |first1=Bruce |title=Sheraton Palm Coast Hotel Memories |url=https://www.facebook.com/groups/1183106082089507/posts/2257076021359169/ |website=Facebook |publisher=Meta |access-date=27 April 2026}} === International telecommunications === International telecommunications manufacturing subsidiaries included [Standard Telephones and Cables](/source/Standard_Telephones_and_Cables) in the United Kingdom and Australia, [Indosat](/source/Indosat) in Indonesia, [Standard Elektrik Lorenz](/source/Standard_Elektrik_Lorenz) (today part of [Nokia](/source/Nokia) Germany) and ''{{interlanguage link|vertical-align=sup|Intermetall|de}} Gesellschaft für Metallurgie und Elektronik mbH'' (acquired from [Clevite](/source/Clevite) in 1965; now TDK-Micronas) in Germany, [BTM](/source/Bell_Telephone_Manufacturing_Company) in Belgium, and CGCT and LMT in France. These companies manufactured equipment according to ITT designs, including the (1960s) Pentaconta [crossbar switch](/source/crossbar_switch) and (1970s) Metaconta D, L, and 10c [Stored Program Control exchange](/source/Stored_Program_Control_exchange)s, mostly for sale to their respective national telephone administrations. This equipment was also produced under license in [Poznań](/source/Pozna%C5%84) (Poland) and in [Yugoslavia](/source/Socialist_Federal_Republic_of_Yugoslavia) and elsewhere. ITT was the largest owner of the [LM Ericsson](/source/LM_Ericsson) company in Sweden but sold out in 1960. [Alec Reeves](/source/Alec_Reeves), an ITT employee in France in the 1930s, developed [pulse-code modulation](/source/pulse-code_modulation) (PCM) innovations, upon which future digital voice communication was based. [Charles K. Kao](/source/Charles_K._Kao), working at STC in the UK, pioneered the use of [optical fiber](/source/optical_fiber) from 1966, for which he was awarded the 2009 [Nobel Prize in Physics](/source/Nobel_Prize_in_Physics). === Harold Geneen's appointment === In 1959, [Harold Geneen](/source/Harold_Geneen) became [CEO](/source/CEO). Using [leveraged buyout](/source/leveraged_buyout)s, he turned the minor acquisitions of the 1950s into major growth during the 1960s. In 1965, ITT attempted to purchase the [ABC](/source/American_Broadcasting_Company) television network for $700 million. The deal was halted by federal [antitrust](/source/antitrust) regulators who feared ITT was growing too large. ITT moved to acquire companies outside the telecommunications industry to continue its growth without violating antitrust legislation. Under Geneen's leadership, ITT acquired over 300 companies in the 1960s, with some of these acquisitions being hostile takeovers. The deals included well-known businesses like the [Sheraton](/source/Sheraton_Hotels_and_Resorts) hotel chain, [Wonder Bread](/source/Wonder_Bread) maker [Continental Baking](/source/Continental_Baking_Company), and [Avis Rent-a-Car](/source/Avis_Rent_A_Car_System_Inc.). ITT also absorbed smaller operations in auto parts, energy, books, semiconductors, and cosmetics. In 1966, ITT acquired Educational Services, Inc., an operator of [for-profit schools](/source/For-profit_education), which became [ITT/ESI](/source/ITT_Technical_Institute). When ITT attempted to acquire [The Hartford](/source/The_Hartford) insurance company in 1970, the [US Justice Department](/source/United_States_Department_of_Justice) filed suit, and ITT agreed to divest assets equal to those of Hartford's, including Avis.[http://www.fundinguniverse.com/company-histories/International-Telephone-and-Telegraph-Corporation-Company-History.html International Telephone and Telegraph Corporation] {{webarchive|url=https://web.archive.org/web/20120122173433/http://www.fundinguniverse.com/company-histories/International-Telephone-and-Telegraph-Corporation-Company-History.html |date=2012-01-22 }} at Funding Universe During the 1960s and 1970s, under the leadership of Harold Geneen, the company rose to prominence as the archetypal [conglomerate](/source/Conglomerate_(company)), deriving its growth from hundreds of acquisitions in diversified industries.{{Citation needed|date=February 2026}} ITT's sales grew from about $700 million in 1960 to about $8 billion in 1970, and its profit from $29 million to $550 million. However, when increased interest rates started eating away at profits in the late 1960s, ITT's growth slowed considerably. In the late 1960s, the British electronics manufacturer [Kolster-Brandes Limited](/source/Kolster-Brandes), KB for short, had run into trouble with its [color television](/source/color_television) manufacturing and turned to ITT for help; ITT bought out the company, and for a while, UK products were badged "ITT KB" then eventually just ITT. By the late 1970s, ITT had a substantial presence on the UK domestic electrical market in television, audio, and portable radio products. In 1972 the KONI Group,{{cite web|url=http://www.koni.com/company-link-header/profile/history/|title= KONI shock absorbers|url-status=dead|archive-url= https://web.archive.org/web/20150518032714/http://www.koni.com/company-link-header/profile/history/|archive-date=2015-05-18}} manufacturer of shock absorbers, was added to the list of ITT's acquisitions. === Brazilian expropriation in 1962 === In February 1962, during the presidency of [João Goulart](/source/Jo%C3%A3o_Goulart), the State Governor of [Rio Grande do Sul](/source/Rio_Grande_do_Sul), [Leonel Brizola](/source/Leonel_Brizola), decided to expropriate a Brazilian subsidiary of ITT, the Companhia Telefônica Nacional. During the following years of Goulart's presidency, the expropriation was one of the most debated Brazilian political issues. The action from the state governor to expropriate the company was never supported by the Brazilian president at the time and had severe implications for [Brazil–United States relations](/source/Brazil%E2%80%93United_States_relations). Some historians even say that the expropriation was one of the reasons for the [federal government of the United States](/source/federal_government_of_the_United_States) supporting the [1964 Brazilian coup d'état](/source/1964_Brazilian_coup_d'%C3%A9tat).{{Cite web|last=Brasil|first=CPDOC-Centro de Pesquisa e Documentação História Contemporânea do|title=LEONEL DE MOURA BRIZOLA|url=http://www.fgv.br/cpdoc/acervo/dicionarios/verbete-biografico/leonel-de-moura-brizola|access-date=2020-07-24|website=CPDOC - Centro de Pesquisa e Documentação de História Contemporânea do Brasil|language=pt-br}} ===1972 Republican National Convention === ITT became involved in a scandal related to the [1972 Republican National Convention](/source/1972_Republican_National_Convention). In May 1971, ITT president Geneen pledged $400,000 to support a proposal to hold the convention in [San Diego](/source/San_Diego); only $100,000 of the contribution was publicly disclosed. The [Republican National Committee](/source/Republican_National_Committee) selected San Diego as the site in July 1971. However, on February 29, 1972, newspaper columnist [Jack Anderson](/source/Jack_Anderson_(columnist)) disclosed an interoffice memo from ITT lobbyist Dita Beard to ITT vice president Bill Merriam, dated June 25, 1971. The memo appeared to draw a connection between ITT's contribution to the convention and the favorable settlement of a [United States Department of Justice Antitrust Division](/source/United_States_Department_of_Justice_Antitrust_Division) lawsuit. The resulting scandal, including a Senate investigation and the threat of criminal charges, caused ITT to withdraw its support for the San Diego convention. That, combined with a shortage of hotel space and problems with the proposed venue, led the RNC to move the convention to Miami.{{cite journal|last=Ancona|first=Vincent S.|date=Fall 1992|title=When the Elephants Marched out of San Diego|journal=Journal of San Diego History|publisher=San Diego Historical Society|volume=38|issue=4|url=http://www.sandiegohistory.org/journal/92fall/elephants.htm|url-status=live|archive-url=https://web.archive.org/web/20130705183100/http://www.sandiegohistory.org/journal/92fall/elephants.htm|archive-date=2013-07-05}} Special prosecutor [Leon Jaworski](/source/Leon_Jaworski) investigated the case but ultimately concluded there was no evidence of criminal conduct by ITT.{{cite news|url=http://www.time.com/time/magazine/article/0,9171,911385,00.html|title=ITT: No charges|date=June 10, 1974|work=Time Magazine|access-date=24 October 2012|url-status=dead|archive-url=https://web.archive.org/web/20121019204618/http://www.time.com/time/magazine/article/0,9171,911385,00.html|archive-date=19 October 2012}} [http://www.trivia-library.com/a/united-states-and-american-history-1972.htm United States and American History: 1972] {{webarchive|url=https://web.archive.org/web/20070318231952/http://www.trivia-library.com/a/united-states-and-american-history-1972.htm |date=2007-03-18 }} at trivia-library.com Nixon aides such as [John Dean](/source/John_Dean) and [Jeb Stuart Magruder](/source/Jeb_Stuart_Magruder) have alleged that the [Watergate break-in](/source/Watergate_scandal) was motivated by the [Committee for the Re-Election of the President](/source/Committee_for_the_Re-Election_of_the_President)'s suspicion that the [Democratic National Committee](/source/Democratic_National_Committee) was making similar deals to fund its [1972 convention](/source/1972_Democratic_National_Convention). This theory is supported by conversations and exchanges between President [Richard Nixon](/source/Richard_Nixon) and his chief of staff [H. R. Haldeman](/source/H._R._Haldeman) before and after the break-in, as well as by testimony by [E. Howard Hunt](/source/E._Howard_Hunt). However, this theory has also been disputed by others involved in the break-in, such as [G. Gordon Liddy](/source/G._Gordon_Liddy).Graff, Garrett M. (2022). ''Watergate: A New History'' (1 ed.). New York: Avid Reader Press. p. 171-172. {{ISBN|978-1-9821-3916-2}}. {{OCLC|1260107112}} === Involvement in 1973 Pinochet coup in Chile === In 1970, ITT owned 70% of CTC (the Chilean Telephone Company, now [Movistar](/source/Movistar) Chile) and funded ''[El Mercurio](/source/El_Mercurio)'', a Chilean [right-wing](/source/Right-wing_politics) newspaper. ITT also had some $200 million worth of investments in [Chile](/source/Chile). Under Geneen's leadership, ITT funneled $350,000 to [Allende](/source/Salvador_Allende)'s opponent, [Jorge Alessandri](/source/Jorge_Alessandri).Gilpin, Kenneth N. [https://www.nytimes.com/1997/11/23/business/harold-s-geneen-87-dies-nurtured-itt.html ''"Harold S. Geneen, 87, Dies"''] ''The New York Times'', November 23, 1997 When [Allende](/source/Salvador_Allende) won the presidential election, ITT offered the [CIA](/source/CIA) $1,000,000 to defeat [Allende](/source/Salvador_Allende), though the offer was rejected.[http://foia.state.gov/Reports/ChurchReport.asp ''Staff Report of the Select Committee To Study Governmental Operations With Respect to Intelligence Activities''] {{Webarchive|url=https://web.archive.org/web/20090911173014/http://foia.state.gov/Reports/ChurchReport.asp |date=September 11, 2009 }}, December 18, 1975 Declassified documents released by the U.S. [Central Intelligence Agency](/source/Central_Intelligence_Agency) in 2000 reveal that the company financially helped opponents of [Salvador Allende](/source/Salvador_Allende)'s government prepare a [military coup](/source/military_coup).[http://foia.state.gov/Reports/HincheyReport.asp#17 Hinchey Report] {{webarchive|url=https://web.archive.org/web/20091020110606/http://foia.state.gov/Reports/HincheyReport.asp |date=2009-10-20 }} at US Dept. of State{{cite news | url=https://www.nytimes.com/2003/01/30/world/edward-korry-81-is-dead-falsely-tied-to-chile-coup.html?pagewanted=1 | work=The New York Times | title=Edward Korry, 81, Is Dead; Falsely Tied to Chile Coup | first=David | last=Stout | date=January 30, 2003 | access-date=May 5, 2010 | url-status=live | archive-url=https://web.archive.org/web/20130512023248/http://www.nytimes.com/2003/01/30/world/edward-korry-81-is-dead-falsely-tied-to-chile-coup.html?pagewanted=1 | archive-date=May 12, 2013 }}[http://www.democracynow.org/blog/2013/9/10/the_pinochet_file_how_us_politicians_banks_corporations_aided_chilean_coup_dictatorship The Pinochet File: How U.S. Politicians, Banks and Corporations Aided Chilean Coup, Dictatorship] {{webarchive|url=https://web.archive.org/web/20150912170956/http://www.democracynow.org/blog/2013/9/10/the_pinochet_file_how_us_politicians_banks_corporations_aided_chilean_coup_dictatorship |date=2015-09-12 }}. ''[Democracy Now!](/source/Democracy_Now!)'' September 10, 2013. On September 28, 1973, an ITT building in New York City was bombed by the [Weather Underground](/source/Weather_Underground) for involvement in the coup d'état.{{cite news | url=https://select.nytimes.com/gst/abstract.html?res=FB0815FA3554137A93CBAB1782D85F478785F9 | work=The New York Times | title=I.T.T. OFFICE HERE DAMAGED BY BOMB; Caller Linked Explosion at Latin-American Section to 'Crimes in Chile' I.T.T. Latin-American Office on Madison Ave. Damaged by Bomb Fire in Rome Office Bombing on the Coast Rally the Opponents | date=September 29, 1973 | access-date=May 5, 2010 | first=Paul L. | last=Montgomery | url-status=live | archive-url=https://web.archive.org/web/20110512100123/http://select.nytimes.com/gst/abstract.html?res=FB0815FA3554137A93CBAB1782D85F478785F9 | archive-date=May 12, 2011 }}{{Cite book |last1=Ayers |first1=Bill |url=https://books.google.com/books?id=X2OJhrWo6PcC&dq=itt+bomb+1973&pg=PT257 |title=Sing a Battle Song: The Revolutionary Poetry, Statements, and Communiques of the Weather Underground 1970-1974 |last2=Dohrn |first2=Bernardine |last3=Jones |first3=Jeff |date=2011-01-04 |publisher=Seven Stories Press |isbn=978-1-58322-965-1 |pages=257 |language=en}} === Post-Geneen: Hamilton and Araskog === In March 1977, Lyman C. Hamilton was appointed CEO, and Geneen became chairman of the board. In June 1979, while Hamilton was in Asia, Geneen became aware of Hamilton's plans to divest ITT's European consumer goods business and lobbied his fellow board members to dismiss him. In July 1979, [Rand Araskog](/source/Rand_Araskog) became CEO. Shortly thereafter, Araskog insisted that the board remove Geneen as chairman, though Geneen remained on the board for four more years.Wasserstein, Bruce. [https://books.google.com/books?id=WUr2ZxpZ8DIC&dq=itt+geneen+araskog&pg=PT200 ''Big deal: the battle for control of America's leading corporations'']{{Cite news | url=https://www.latimes.com/archives/la-xpm-1997-nov-23-me-56924-story.html | title=Obituary: Harold Geneen, 87; Led ITT's Growth for 18 Years | date=23 November 1997 | agency=Associated Press | newspaper=The New York Times | url-status=live | archive-url=http://archive.wikiwix.com/cache/20160327084356/http://articles.latimes.com/1997/nov/23/local/me-56924 | archive-date=27 March 2016 }} Araskog over the next two decades dismantled much of ITT, selling most of its holdings. Starting in 1977, ITT set out to develop an ambitious new [Digital Telephone Exchange](/source/Telephone_exchange), System 1240 (later [System 12](/source/ITT_System_12)),Viswanathan, T. [https://books.google.com/books?id=ghCiNHzWvL4C&dq=itt+system+1240&pg=PA225 ''Telecommunication Switching Systems and Networks''], p.225.[http://www.freepatentsonline.com/4201891.html US Patent 4,201,891] at freepatentsonline.com which reportedly cost US$1 billion.[http://www.encyclopedia.com/topic/International_Telephone__Telegraph_Corp.aspx International Telephone Telegraph Corp] at encyclopedia.com According to ''[Fortune](/source/Fortune_(magazine))'''s Myron Magnet in 1985, Araskog directed the company's efforts towards a relentless pursuit of developing and promoting System 12, while channeling profits from successful ventures into fulfilling System 12's voracious demands.{{cite news | first1=Myron | last1=Magnet | author2=Andrew Evan Serwer | url=https://money.cnn.com/magazines/fortune/fortune_archive/1985/11/11/66595/index.htm | title=IS ITT FIGHTING SHADOWS -- OR RAIDERS? | journal=Fortune | date=11 November 1985 | url-status=dead | archive-url=https://web.archive.org/web/20140429045738/http://money.cnn.com/magazines/fortune/fortune_archive/1985/11/11/66595/index.htm | archive-date=29 April 2014 }} System 12 was intended to operate in all markets and in all modes, from local switches to long distance.{{cite book | chapter-url=https://books.google.com/books?id=07NmhqkOqwsC&q=itt+alcatel+system+12&pg=PA415 | title=100 Years of Telephone Switching | chapter=IX-7: "The ITT (now Alcatel) System 12" | first1=Robert J. | last1=Chapuis | first2=Amos E. Jr. | last2=Joel | year=2003 | publisher=IOS Press |isbn=978-1-58603-372-9 }} The design was done at the Advanced Technology Center ([Stamford, Connecticut](/source/Stamford%2C_Connecticut), and then [Shelton, Connecticut](/source/Shelton%2C_Connecticut)). Manufacturing was by ITT's subsidiaries, such as [BTM](/source/Bell_Telephone_Manufacturing_Company) in [Belgium](/source/Belgium), where the first production system was installed at [Brecht](/source/Brecht%2C_Belgium) in August 1982. Initial sales, particularly in Europe and Mexico, were strong, but the new system took longer than expected to integrate, with further losses.[https://www.latimes.com/archives/la-xpm-1985-11-05-fi-4452-story.html "ITT Earnings Decline 33% for 3rd Quarter"], ''Los Angeles Times'', 5 November 1985. Against the advice of headquarters, ITT Telecommunications ([ITT Kellogg](/source/Kellogg_Switchboard_%26_Supply_Company)) in Raleigh, North Carolina, undertook the conversion in the US market,{{cite book| title=Managing Across Borders | first1=Christopher A. | last1=Bartlett | author-link1= Christopher A. Bartlett | first2= Sumantra| last2=Ghoshal | publisher= Harvard Business School Press | edition = 2 | year = 2002 |isbn=978-1-57851-707-7 }} and although sales were announced in 1984[https://www.nytimes.com/1984/06/26/business/itt-telecom.html ITT Telecom] {{webarchive|url=https://web.archive.org/web/20161220060341/http://www.nytimes.com/1984/06/26/business/itt-telecom.html |date=2016-12-20 }}, ''The New York Times'', 26 June 1984. and 1985,[https://www.nytimes.com/1985/03/21/business/itt-makes-sale-to-southern-bell.html "ITT Makes Sale To Southern Bell"] {{webarchive|url=https://web.archive.org/web/20161220060440/http://www.nytimes.com/1985/03/21/business/itt-makes-sale-to-southern-bell.html |date=2016-12-20 }}, ''The New York Times'', 21 March 1985. the attempt ultimately failed in early 1986.[http://www.frankoverstreet.com/pages/co/itt-system-12.html ITT System 12] {{webarchive|url=https://web.archive.org/web/20160920030609/http://www.frankoverstreet.com/pages/co/itt-system-12.html |date=2016-09-20 }} at frankoverstreet.comHinman, Catherine.[https://www.orlandosentinel.com/1986/03/14/itt-division-in-brevard-will-furlough-60/ "ITT Division In Brevard Will Furlough 60"], ''Orlando Sentinel'', 14 March 1986. ITT divested its global telecommunications product ventures, such as [ITT Kellogg](/source/Kellogg_Switchboard_and_Supply_Company), to [Alcatel Alsthom](/source/Alcatel-Alsthom), a subsidiary of Compagnie Générale d'Electricité (CGE), resulting in the establishment of Alcatel N.V. (Netherlands) in 1986. This transaction positioned Alcatel N.V. as the world's second-largest telecommunications company at that time.[http://www.alcatel-lucent.com/wps/portal/!ut/p/kcxml/04_Sj9SPykssy0xPLMnMz0vM0Y_QjzKLd4w39fEESYGYRq6m-pEoYgbxjggRX4_83FT9IH1v_QD9gtzQiHJHR0UAHSvGjw!!/delta/base64xml/L3dJdyEvd0ZNQUFzQUMvNElVRS82X0FfSUJI Alcatel-Lucent Timeline] {{webarchive|url=https://web.archive.org/web/20120203104316/http://www.alcatel-lucent.com/wps/portal/!ut/p/kcxml/04_Sj9SPykssy0xPLMnMz0vM0Y_QjzKLd4w39fEESYGYRq6m-pEoYgbxjggRX4_83FT9IH1v_QD9gtzQiHJHR0UAHSvGjw!!/delta/base64xml/L3dJdyEvd0ZNQUFzQUMvNElVRS82X0FfSUJI |date=2012-02-03 }} at alcatel-lucent.com[https://www.fundinguniverse.com/company-histories/Alcatel-SA-Company-History.html Alcatel SA Company History] {{webarchive|url=https://web.archive.org/web/20120122173932/http://www.fundinguniverse.com/company-histories/Alcatel-SA-Company-History.html |date=2012-01-22 }} at Funding Universe Initially, ITT retained a 37% ownership stake, but in March 1992, it proceeded to sell off its remaining 30%, effectively ceasing its participation in the telephone industry.[https://www.nytimes.com/1992/03/04/business/company-news-itt-accepts-3.6-billion-alcatel-sale.html "ITT Accepts $3.6 Billion Alcatel Sale"] {{webarchive|url=https://web.archive.org/web/20160306022701/http://www.nytimes.com/1992/03/04/business/company-news-itt-accepts-3.6-billion-alcatel-sale.html|date=2016-03-06}}, ''The New York Times'', 4 March 1992. In 2006, Alcatel Alsthom S.A. merged with [Lucent](/source/Lucent) to form [Alcatel-Lucent](/source/Alcatel-Lucent). [ITT Educational Services, Inc.](/source/ITT_Technical_Institute) (ESI) was spun off through an [IPO](/source/Initial_public_offering) in 1994, with ITT as an 83% shareholder (in September 2016, ESI announced plans to close all of its 130 technical institutes in 38 states because their students were no longer eligible for federal aid{{cite web |url=http://www.dailynews.com/social-affairs/20160906/itt-tech-closes-its-doors-blaming-unconstitutional-us-sanctions |title=ITT Tech closes its doors, blaming 'unconstitutional' US sanctions |website=[Los Angeles Daily News](/source/Los_Angeles_Daily_News) |access-date=2016-09-13 |url-status=live |archive-url=https://web.archive.org/web/20160908181428/http://www.dailynews.com/social-affairs/20160906/itt-tech-closes-its-doors-blaming-unconstitutional-us-sanctions |archive-date=2016-09-08 |date=2016-09-06 }} ITT Tech closes its doors, blaming ‘unconstitutional’ US sanctions). ITT merged its long-distance division with [Metromedia](/source/Metromedia) Long Distance in March 1989, creating ''Metromedia-ITT''.[https://www.nytimes.com/1989/03/16/business/company-news-metromedia-deal-for-2-itt-units.html "COMPANY NEWS; Metromedia Deal For 2 ITT Units"] {{webarchive|url=https://web.archive.org/web/20171219140626/http://www.nytimes.com/1989/03/16/business/company-news-metromedia-deal-for-2-itt-units.html |date=2017-12-19 }}, ''The New York Times'', 16 March 1989. Long Distance Discount Services, Inc. (LDDS) eventually acquired Metromedia-ITT in 1993. Subsequently, LDDS would rename itself [WorldCom](/source/MCI_Inc.) in 1995. === 1995 breakup === In 1995, with Araskog still at the helm, ITT split into three separate public companies: * ITT Hartford Group Inc'''.'''{{Cite web |title=ITT Corporation |url=https://www.britannica.com/money/ITT-Corporation#ref28692 |access-date=March 3, 2026 |website=Britannica.com}} The insurance companies group dropped ITT from its name in 1997, becoming [The Hartford Financial Services Group, Inc.](/source/The_Hartford){{Cite web |last=admin |date=2005-12-22 |title=The Hartford Marks 10 Years as Public Company and Its Split from ITT |url=https://www.insurancejournal.com/news/national/2005/12/23/63342.htm |access-date=2026-03-03 |website=Insurance Journal |language=en-US}} * ITT Industries. ITT operated under this name until 2006 and is a major manufacturing and [defense contractor](/source/defense_contractor) business. ** On July 1, 2006, ITT Industries changed its name to ITT Corporation as a result of its shareholders' vote on May 9, 2006. *ITT Corp. In 1997, ITT Corp. completed a merger with [Starwood](/source/Starwood_Hotels_and_Resorts), which wanted to acquire [Sheraton Hotels and Resorts](/source/Sheraton_Hotels_and_Resorts). Starwood sold ITT World Directories to [VNU](/source/Nielsen_Holdings).{{Cite news| issn = 0362-4331| title = Company News; Starwood Lodging in $2.1 Billion Deal with Vnu| work = The New York Times| access-date = 2018-05-29| date = 1997-12-19| url = https://www.nytimes.com/1997/12/19/business/company-news-starwood-lodging-in-2.1-billion-deal-with-vnu.html}} ITT completely divested from ITT/ESI by 1999 but continued to license the [ITT Technical Institute](/source/ITT_Technical_Institute) name to ESI[http://www.ittesi.com/ireye/ir_site.zhtml?ticker=ESI&script=1801 Webpage] at ITTESI.com {{webarchive |url=https://web.archive.org/web/20061022125653/http://www.ittesi.com/ireye/ir_site.zhtml?ticker=ESI&script=1801 |date=October 22, 2006 }} until its demise in 2016.{{Cite news | url = https://gizmodo.com/itt-is-officially-closing-1786243058 | first = Michael | last = Nunez | title = ITT Tech Is Officially Closing | newspaper = [Gizmodo](/source/Gizmodo) | date = September 6, 2016 | access-date = September 6, 2016 | url-status = live | archive-url = https://web.archive.org/web/20160906125752/http://gizmodo.com/itt-is-officially-closing-1786243058 | archive-date = September 6, 2016 }} Also in 1999, ITT Corp. dropped the ITT name in favor of [Starwood](/source/Starwood_Hotels_and_Resorts).{{cite web|url=http://arbiter.wipo.int/domains/decisions/html/2001/d2001-0166.html|title=WIPO Domain Name Decision: D2001-0166|first=Arbitration and Mediation|last=Center|url-status=live|archive-url=https://web.archive.org/web/20010610031407/http://arbiter.wipo.int/domains/decisions/html/2001/d2001-0166.html|archive-date=2001-06-10}} === Criminal prosecution === In March 2007, ITT Corporation became the first major defense contractor to be convicted for [criminal violations](/source/Corporate_crime) of the U.S. [Arms Export Control Act](/source/Arms_Export_Control_Act). The fines resulted from ITT's [outsourcing](/source/outsourcing) program, in which they transferred [night vision goggles](/source/night_vision_goggles) and [classified information](/source/classified_information) about [countermeasure](/source/countermeasure)s against [laser weapon](/source/laser_weapon)s, including light interference filters, to engineers in [Singapore](/source/Singapore), the [People's Republic of China](/source/People's_Republic_of_China), and the [United Kingdom](/source/United_Kingdom).{{cite news|author=Lindsey, Sue|title=ITT Fined $100M for Illegal Tech Exports|url=https://www.foxnews.com/printer_friendly_wires/2007Mar27/0,4675,ITTFine,00.html|agency=[Associated Press](/source/Associated_Press)|work=[Fox News](/source/Fox_News)|date=March 27, 2007}} They were fined US$100 million although they were also given the option of spending half of that sum on [research and development](/source/research_and_development) of new night vision technology. The United States government will assume rights to the resulting intellectual property.Cullen, Drew. [https://www.theregister.co.uk/2007/03/27/itt_fined_for_illegal_exports/ "ITT Fined for Illegal Exports"] {{webarchive|url=http://archive.wikiwix.com/cache/20110224091156/https://www.theregister.co.uk/2007/03/27/itt_fined_for_illegal_exports/ |date=2011-02-24 }}, ''[The Register](/source/The_Register)'', 27 March 2007.[http://pmddtc.state.gov/compliance/consent_agreements/pdf/ITTcorp_ConsentAgreement.pdf "Consent Agreement, 2007: ITT Corporation"] {{webarchive|url=https://web.archive.org/web/20091010080757/http://www.pmddtc.state.gov/compliance/consent_agreements/pdf/ITTcorp_ConsentAgreement.pdf |date=2009-10-10 }} [U.S. State Department](/source/U.S._State_Department), 2007. In its investigation and subsequent ruling, the [United States Department of Justice](/source/United_States_Department_of_Justice) found that the corporation went to significant lengths to circumvent rules regarding the exports, including setting up a [front company](/source/front_company). According to [U.S. Attorney](/source/U.S._Attorney) [John L. Brownlee](/source/John_L._Brownlee), the company fought the investigation in order "to essentially run out the clock on the statute of limitations."{{cite news | url=https://money.cnn.com/2007/03/27/news/international/itt_export/index.htm?postversion=2007032713 | work=CNN | title=ITT fined $100 million for illegal exports | date=27 March 2007 | access-date=May 5, 2010 | url-status=dead | archive-url=https://web.archive.org/web/20100328191637/http://money.cnn.com/2007/03/27/news/international/itt_export/index.htm?postversion=2007032713 | archive-date=28 March 2010 }} === 2011 restructuring as three public companies === On January 12, 2011, ITT announced a transformation to separate the remaining company into three [publicly traded](/source/publicly_traded) independent companies. On July 14, 2011, ITT announced the names of the three companies: * The Industrial Process & Flow Control division would retain the name ITT Corporation. ** ITT Corporation changed its name to ITT Inc. in 2016. * The Water & Wastewater division was renamed [Xylem Inc.](/source/Xylem_Inc.), with the stock symbol XYL, which refers to [xylem](/source/xylem) tissue in plants. * The Defense division became [Exelis Inc.](/source/Exelis_Inc.), symbol XLS. Exelis was acquired by [Harris Corporation](/source/Harris_Corporation) in 2015. Then-ITT stockholders subsequently owned shares in all three companies following the spinoff. ===21st century acquisitions=== On June 26, 2007, ITT reached an agreement to acquire the privately held ''International Motion Control'' (IMC) for $395 million. The transaction was finalized in September 2007. Subsequently, on September 14, 2010, an announcement was made to close the Cleveland site. An agreement was reached on September 18, 2007, for ITT to buy [EDO Corporation](/source/EDO_Corporation) for $1.7 billion.{{cite web|url=http://www.defenseindustrydaily.com/itt-corp-acquires-edo-in-17b-deal-03817/|title=ITT Corp. Acquires EDO in $1.7B Deal|url-status=live|archive-url=https://web.archive.org/web/20160817112647/http://www.defenseindustrydaily.com/itt-corp-acquires-edo-in-17b-deal-03817/|archive-date=2016-08-17}} After EDO shareholders' approval, the deal was closed and finalized on December 20, 2007. On April 16, 2009, ITT announced it has signed a definitive agreement to acquire Laing GmbH of Germany, a privately held leading producer of energy-efficient [circulator pump](/source/circulator_pump)s primarily used in residential and commercial plumbing and [heating, ventilating, and air conditioning (HVAC)](/source/Heating%2C_ventilation%2C_and_air_conditioning) systems. In December 2025, ITT agreed to a $4.8 billion acquisition of [SPX Flow](/source/SPX_Technologies) from [Lone Star Funds](/source/Lone_Star_Funds).{{Cite news |last=Kellaher |first=Colin |date=2025-12-05 |title=ITT to Buy SPX Flow From Lone Star Funds for Nearly $4.8 Billion |url=https://www.wsj.com/articles/itt-to-buy-spx-flow-from-lone-star-funds-for-nearly-4-8-billion-65a57182 |access-date=2026-02-11 |work=Wall Street Journal |language=en-US |issn=0099-9660}} ==Headquarters== In 1929, ITT's headquarters were at (75) 67 Broad Street, [Manhattan](/source/Manhattan), [New York](/source/New_York_City), [New York](/source/New_York_(state)).{{cite web |url=http://www.nysonglines.com/broad.htm |title=Broad Street: A New York Songline |access-date=2009-01-03 |url-status=live |archive-url=http://archive.wikiwix.com/cache/20110923155353/http://www.nysonglines.com/broad.htm |archive-date=2011-09-23 }} 67 (block): The International Telephone and Telegraph Building, erected in 1928 by Garment District developer Abraham Lefcourt as the Lefcourt Exchange Building, was almost immediately bought by ITT--which expanded the building to take over the whole block by 1930. "During World War II the building was a hub for communications with American submarines operating in the [Atlantic Ocean](/source/Battle_of_the_Atlantic)."Holusha, John. [https://www.nytimes.com/1999/10/10/realestate/commercial-property-75-broad-street-turning-buildings-into-telecommunications.html?pagewanted=all&src=pm "Commercial Property /75 Broad Street; Turning Buildings Into Telecommunications Hubs"] {{webarchive|url=https://web.archive.org/web/20160316140237/http://www.nytimes.com/1999/10/10/realestate/commercial-property-75-broad-street-turning-buildings-into-telecommunications.html?pagewanted=all&src=pm |date=2016-03-16 }}, ''The New York Times'', 10 October 1999. From 1961{{cite news | url=http://www.thecityreview.com/parkave.html |title=The Midtown Book - Park Avenue | url-status=live | archive-url=https://web.archive.org/web/20120120070328/http://www.thecityreview.com/parkave.html | archive-date=2012-01-20 }} to 1989,{{cite news | url=https://www.nytimes.com/1989/05/21/business/reforging-the-geneen-machine.html | work=The New York Times | first=Claudia H. | last=Deutsch | title=REFORGING THE 'GENEEN MACHINE' | date=21 May 1989 | url-status=live | archive-url=https://web.archive.org/web/20160828201919/http://www.nytimes.com/1989/05/21/business/reforging-the-geneen-machine.html | archive-date=28 August 2016 }} ITT's headquarters were at 320 Park Ave., New York.{{cite web|url=http://www.trivia-library.com/a/international-telephone-and-telegraph-itt-information-and-history.htm|title=International Telephone & Telegraph ITT Information and History|url-status=live|archive-url=https://web.archive.org/web/20160329092708/http://trivia-library.com/a/international-telephone-and-telegraph-itt-information-and-history.htm|archive-date=2016-03-29}} 1330 Sixth Avenue in Manhattan, New York City, which was ITT's corporate headquarters prior to its merger with [Starwood](/source/Starwood_Hotels_and_Resorts), was originally owned by the [American Broadcasting Company](/source/American_Broadcasting_Company) (ABC), which ITT attempted to acquire in 1963. After a financial downturn, ABC moved out of the building known as "Brown Rock" and sold it to a Japanese conglomerate, which then in turn leased a beneficial portion out to ITT Corporation. In 2022, ITT's global headquarters relocated from [White Plains, New York](/source/White_Plains%2C_New_York) to [Harbor Point](/source/Harbor_Point_(Stamford)) in [Stamford](/source/Stamford%2C_Connecticut), [Connecticut](/source/Connecticut).{{Cite web |title=Governor Lamont Announces ITT Inc. Relocating Its Global Headquarters to Connecticut |url=https://portal.ct.gov/governor/news/press-releases/2021/06-2021/governor-lamont-announces-itt-inc-relocating-its-global-headquarters-to-connecticut |access-date=2026-03-01 |website=CT.gov |language=en}} ==ITT Avionics== ITT Avionics was a division of ITT Corporation in [Nutley](/source/Nutley%2C_New_Jersey), [New Jersey](/source/New_Jersey). A 300-foot research tower at ITT Avionics just off Washington Ave. (Nutley, New Jersey) was built in 1947 for scientists to research [microwave communication](/source/Microwave_transmission) systems. Research at the tower had stopped in the 1970s.{{cite news |title=Radio Tower Demolished |url=https://www.nytimes.com/1996/04/05/nyregion/radio-tower-demolished.html |work=[The New York Times](/source/The_New_York_Times) |date=5 April 1996 |access-date=2010-07-23 |url-status=live |archive-url=https://web.archive.org/web/20100722105215/http://www.nytimes.com/1996/04/05/nyregion/radio-tower-demolished.html |archive-date=22 July 2010 }} On the morning of April 4, 1996, at 10:00 am, the tower was demolished with explosives to prepare the site for sale. In October 1989, the [Naval Air Systems Command](/source/Naval_Air_Systems_Command) (NAVAIR) awarded a contract to ITT Avionics for production of an Airborne Self-Protection Jammer (ASPJ), and a similar contract was issued to [Westinghouse Electric Corporation](/source/Westinghouse_Electric_Corporation). Westinghouse and ITT had worked together with the U.S. government to develop the ASPJ. The contract was later terminated by the government [for convenience](/source/termination_for_convenience) because the ASPJ failed independent [operational test and evaluation](/source/OPEVAL) (OPEVAL) procedures.[Armed Services Board of Contract Appeals](/source/Armed_Services_Board_of_Contract_Appeals), [https://www.asbca.mil/Decisions/2003/50403_50961_52468.pdf Appeals of ITT Avionics Division under Contract No. N00019-89-C-0160, Opinion by Administrative Judge Harty] {{Webarchive|url=https://web.archive.org/web/20220924062402/https://www.asbca.mil/Decisions/2003/50403_50961_52468.pdf |date=2022-09-24 }}, dated 7 April 2003, accessed 24 September 2022 In 1991, the company won a $19.6 million contract from the [United States Air Force](/source/United_States_Air_Force) to develop the "intraflight data link," a communications system for "tactical airborne forces".{{cite news |title=ITT Avionics Gets $19.6M Air Force Pact |url=http://www.highbeam.com/doc/1P1-22598729.html |work=[Bergen Record](/source/Bergen_Record) |date=19 September 1991 |access-date=2010-07-23 |url-status=dead |archive-url=https://web.archive.org/web/20130518185453/http://www.highbeam.com/doc/1P1-22598729.html |archive-date=18 May 2013 |df=dmy-all }} In 2004, they were awarded a $24.9 million contract from the Naval Air Systems Command Weapons Division for engineering software support services provided to the Tactical Aircraft Electronic Warfare Integrated Program Team at [Point Mugu, California](/source/Naval_Air_Station_Point_Mugu) and [China Lake, California](/source/Naval_Air_Weapons_Station_China_Lake).(August 20, 2004.) [http://impeller.net/magazine/news_en/doc2566x.asp "ITT Industries Receives Contract for $24.9 Million."] {{webarchive|url=https://web.archive.org/web/20120420193742/http://impeller.net/magazine/news_en/doc2566x.asp |date=2012-04-20 }} [http://impeller.net Impeller.net] {{webarchive|url=https://web.archive.org/web/20111101034400/http://impeller.net/ |date=2011-11-01 }}. Accessed November 2011. ==Consumer electronics== thumb|150px|ITT brand logo Through their then subsidiary [Schaub Elektrik Lorenz](/source/C._Lorenz_AG), ITT manufactured consumer products under the ITT Schaub-Lorenz brand, such as Touring radio receivers and Ideal Color television sets employing Heliochrom picture tubes.{{cite web|url=http://1.bp.blogspot.com/-_lUfX51dGQA/T5rl4WcLLdI/AAAAAAAALyY/0qWIKzVoA04/s1600/ITT-2805_SLK-AD2.jpg |title=ITT Heliochrom advertisement |language=de|url-status=live|archive-url=https://web.archive.org/web/20180501003936/http://1.bp.blogspot.com/-_lUfX51dGQA/T5rl4WcLLdI/AAAAAAAALyY/0qWIKzVoA04/s1600/ITT-2805_SLK-AD2.jpg|archive-date=2018-05-01}} Some television models feature the Ideal-Computer cartridge system, featuring a slot suitable for housing an ultrasonic remote control (acting as front panel buttons while docked), a [teletext](/source/teletext) decoder, or Tele-Match video game [dedicated console](/source/dedicated_console)s{{cite web|title=Consola "pong" Tele-Match (versión con paddle) (1977)|url=https://retroordenadoresorty.blogspot.it/2017/08/consola-pong-tele-match-version-con.html|access-date=14 February 2018|website=retroordenadoresorty.blogspot.it|language=es|url-status=live|archive-url=https://web.archive.org/web/20180501003936/https://retroordenadoresorty.blogspot.it/2017/08/consola-pong-tele-match-version-con.html|archive-date=1 May 2018}} (unrelated to the "ITT Telematch Processor" console, a rebrand of the [Fairchild Channel F](/source/Fairchild_Channel_F)); the Ideal-Computer system was licensed to other German producers of its time. ITT Schaub-Lorenz was also behind the Digivision, the first television employing [digital signal processing](/source/digital_signal_processor) of the image.{{cite web|title=ITT DIGIVISION 3447 OSCAR YEAR 1986.|url=https://obsoletetellyemuseum.blogspot.it/2011/12/itt-digivision-3447-oscar-year-1986.html|website=Obsolete Technology Tellye|access-date=14 February 2018|language=en-GB|date=December 2011}} For a comparable time span, ITT had also controlled and then fully absorbed English radio and television manufacturer [Kolster-Brandes](/source/Kolster-Brandes). In 1986, throughout the following year, the ITT Telecommunications division (which included Schaub-Lorenz and Kolster-Brandes) was transferred to [Alcatel](/source/Alcatel-Lucent) through the French [CGE](/source/Compagnie_G%C3%A9n%C3%A9rale_d'Electricit%C3%A9),{{cite web|title=Kellogg Switchboard & Supply Co.|url=http://www.encyclopedia.chicagohistory.org/pages/2736.html|website=Dictionary of Leading Chicago Businesses|access-date=15 February 2018|language=en-US|url-status=live|archive-url=https://web.archive.org/web/20150818032623/http://www.encyclopedia.chicagohistory.org/pages/2736.html|archive-date=18 August 2015}} then in 1988, the consumer electronics division was further spun off and sold to [Nokia](/source/Nokia), who sold some products under the ITT Nokia brand.{{cite web|title=Über ITT - ITT|url=http://www.itt-deutschland.de/index.php/Ueber_ITT.html|website=www.itt-deutschland.de|access-date=15 February 2018|language=de|url-status=dead|archive-url=https://web.archive.org/web/20171017090013/http://www.itt-deutschland.de/index.php/Ueber_ITT.html|archive-date=17 October 2017|df=dmy-all}} Nokia closed their German TV factories in 1996,{{cite web|url=http://www.nokia.com/en_int/news/releases/1996/07/17/nokia-announces-final-sale-of-its-television-manufacturing-business|title=Nokia Announces Final Sale of its Television Manufacturing Business - Nokia|website=Nokia|url-status=dead|archive-url=https://web.archive.org/web/20170729014030/http://www.nokia.com/en_int/news/releases/1996/07/17/nokia-announces-final-sale-of-its-television-manufacturing-business|archive-date=2017-07-29}} although their use of the ITT brand may have been discontinued earlier. Since 2006, the ITT brand and logo have been licensed to the Karcher corporation, which is not part of the ITT group.{{cite web|title=Über Karcher - ITT|url=http://www.itt-deutschland.de/index.php/Ueber_Karcher.html|website=www.itt-deutschland.de|access-date=14 February 2018|language=de|url-status=dead|archive-url=https://web.archive.org/web/20161222152808/http://www.itt-deutschland.de/index.php/Ueber_Karcher.html|archive-date=22 December 2016}} ==Customers and programs== ===Federal Aviation Administration NextGen=== In 2007, ITT was awarded a $207 million initial contract by the [Federal Aviation Administration](/source/Federal_Aviation_Administration) (FAA) to lead a team to develop and deploy the [Automatic Dependent Surveillance – Broadcast](/source/Automatic_dependent_surveillance-broadcast) (ADS-B) system. ADS-B is a key component of the FAA's [NextGen air traffic control modernization program](/source/Next_Generation_Air_Transportation_System) intended to increase safety and efficiency to meet the growing needs of [air transportation](/source/Air_transportation_in_the_United_States).{{cite magazine|last=Demerjian|first=Dave|title=As Skies Grow Crowded, FAA Preps Air Traffic Control 2.0|url=https://www.wired.com/science/discoveries/news/2007/10/faa|magazine=Wired|access-date=25 May 2013|date=25 October 2007|url-status=live|archive-url=https://web.archive.org/web/20130614073523/http://www.wired.com/science/discoveries/news/2007/10/faa|archive-date=14 June 2013}} ITT is responsible for overall system integration and engineering and under contract options will operate and maintain the system after deployment through September 2025. The ITT team includes its partners AT&T, Thales North America, WSI, SAIC, PricewaterhouseCoopers, Aerospace Engineering, Sunhillo, Comsearch, MCS of Tampa, Pragmatics, Washington Consulting Group, Aviation Communications and Surveillance Systems (ACSS), Sandia Aerospace, and NCR Corporation. ===GeoEye-1=== {{main|GeoEye-1}} On September 6, 2008, the ITT-built imaging payload was launched aboard the GeoEye-1 satellite to provide high-resolution [earth imaging](/source/Earth_imaging_satellite). The satellite has the ability to collect images at 0.41-meter [panchromatic](/source/Panchromatic_film) (black and white) and 1.65-meter [multispectral](/source/Multispectral_image) (color) resolution. GeoEye-1 can precisely locate an object to within three meters of its true location on the [Earth](/source/Earth)'s surface. The satellite will also be able to collect up to 700,000 square kilometers of panchromatic imagery per day. ==See also== {{Portal|Aviation}} * [ITT Visual Information Solutions](/source/ITT_Visual_Information_Solutions) * [ITT Interconnect Solutions](/source/ITT_Interconnect_Solutions) * [Top 100 US Federal Contractors](/source/Top_100_US_Federal_Contractors) ==References== {{Reflist|30em}} ==Further reading== * {{cite book | author=Araskog, Rand | title=The ITT Wars: An Insider's View of Hostile Takeovers | location=New York | publisher=HarperCollins Books | year=1982 |isbn=978-1-893122-38-3| title-link=The ITT Wars: An Insider's View of Hostile Takeovers | author-link=Rand Araskog }} * {{cite journal | first1 = Marcelo | last1 = Bucheli | first2 = Erica | last2 = Salvaj | date=November 2013 | title = Reputation and Political Legitimacy: ITT in Chile, 1927-1972 | journal = Business History Review | volume = 87 | issue = 4 | pages = 729–756 | doi = 10.1017/S0007680513001116 | s2cid = 153664273 | url = http://repositorio.udd.cl/bitstream/handle/11447/101/pwp16.pdf?sequence=1 }} * Calvo, Angel. "State, firms and technology. The rise of multinational telecommunications companies: ITT and the Compañía Telefónica Nacional de España, 1924–1945." ''Business History'' (2008) 50#4 pp: 455–473. * {{cite book | author=Klein, Naomi | title=The Shock Doctrine: The Rise of Disaster Capitalism | url=https://archive.org/details/shockdoctrineris00klei | url-access=registration | location=New York| publisher=Metropolitan Books | year=2007 |isbn=978-3-10-039611-2| author-link=Naomi Klein }} * Ledbetter, Rosanna. "ITT: A multinational corporation in Latin America during World War II." ''Historian'' (1985) 47#4 pp: 524–537. * {{cite book | author=Sampson, Anthony | title=The Sovereign State: The Secret History of ITT | location=London | publisher=[Hodder and Stoughton](/source/Hodder_and_Stoughton) | year=1972 |isbn=978-0-340-17195-0| title-link=The Sovereign State | author-link=Anthony Sampson }} * Sisaye, Seleshi. "Contingencies influencing the effectiveness of acquisition-based corporate growth and development strategies: the case of ITT, 1920-1997." ''Leadership & Organization Development Journal'' (1998) 19#5 pp: 231–255. * {{cite book | author=Sobel, Robert | title=ITT: The Management of Opportunity | location=New York| publisher=Times Books | year=1982 |isbn=978-99925-296-8-3| author-link=Robert Sobel }} * {{cite book | author=Sobel, Robert | title=The Rise and Fall of the Conglomerate Kings | location=New York| publisher=Stein and Day Publishers | year=1982|isbn=978-1-893122-47-5}} * {{cite book | author=Sutton, Antony | title=Wall Street & the Rise of Hitler | location=New York | publisher=Buccaneer Books | year=1996 |isbn=978-1-56849-726-6| author-link=Antony Sutton }} == External links == * {{Official website|http://www.itt.com}} {{Finance links | name = ITT Inc. | symbol = ITT | reuters = ITT.N | bloomberg = ITT:US | sec_cik = ITT | yahoo = ITT | google = ITT }} * {{usurped|1=[https://web.archive.org/web/20211117132931/https://www.emporis.com/buildings/1540063/itt-microwave-research-tower-nutley-nj-usa Emporis.com]}} {{ITT Corporation}} {{Telecommunications}} {{S&P 400 companies}} {{Authority control}} {{DEFAULTSORT:Itt Corporation}} Category:ITT Inc. Category:Conglomerate companies of the United States Category:Defense companies of the United States Category:Defunct telecommunications companies of the United States Category:American companies established in 1920 Category:Conglomerate companies established in 1920 Category:Manufacturing companies established in 1920 Category:Telecommunications companies established in 1920 Category:Manufacturing companies disestablished in 1996 Category:1920 establishments in New York (state) Category:Companies listed on the New York Stock Exchange Category:American companies disestablished in 1996 Category:1996 disestablishments in New York (state) Category:Defunct manufacturing companies based in New York (state) Category:Companies based in Stamford, Connecticut Category:Radio manufacturers Category:Companies in the S&P 400 --- Adapted from the Wikipedia article [ITT Inc.](https://en.wikipedia.org/wiki/ITT_Inc.) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/ITT_Inc.?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.