[SatNews] ITT Corporation (NYSE: ITT) is purchasing the business operations of EchoStorm Worldwide.

The privately held EchoStorm delivers innovative video and data management technology for military, government, and commercial applications. The Company provides a suite of secure, net-centric commercial products that enables users to capture, manage, and disseminate full-motion video in near real time, as well as address the common issues involved with system interoperability and bandwidth. The transaction is expected to close by early 2011 and is not expected to materially impact ITT's sales or earnings per share for 2010 or 2011. Terms of the deal were not disclosed. EchoStorm's business assets will be integrated into ITT Geospatial Systems' Night Vision & Imaging business area, where EchoStorm's operationally proven software technology products including adLIB, Convene, FunnelCloud, MDAR and ISRIS, as well as a majority of its employees, will become key additions to the Geospatial Information Solutions business segment.