2023-05-03 06:51:46 ET
ITT ( ITT ) acquires privately held Micro-Mode Products for ~$80M, which closed on May 2.
Micro-Mode is a specialty designer and manufacturer of high-bandwidth Radio Frequency connectors for harsh environment defense and space applications.
The acquisition of Micro-Mode grows ITT’s existing North America connectors platform, which is part of its Connect & Control Technologies segment.
Micro-Mode also provides ITT further access to attractive segments and applications in space and defense, with a total addressable market of more than $4B.
Micro-Mode generated ~$26M in sales during 2022.
No change in guidance due to this transaction.
For further details see:
ITT acquires Micro-Mode Products for $80M