NEW YORK—Manufacturing conglomerate ITT Corp. said Monday that it agreed to buy YSI Inc., which makes environmental water monitoring products. Financial terms were not disclosed.
ITT, which is based in White Plains, N.Y., said the deal will help strengthen its water instrumentation business.
YSI is a privately-held company based in Yellow Springs, Ohio, near Dayton. It had $101 million in global revenue last year and employs 390 people in 22 locations in the U.S., Europe and Asia.
The deal is expected to close in the third quarter.
ITT shares fell 52 cents to $58.32 in premarket trading Monday.
In April, ITT reported a drop in its first-quarter earnings due to costs associated with its plan to split into three separate, publicly traded companies. One will produce "motion and flow control" products for the aerospace, transportation, energy and industrial markets; one will make "fluid technology" equipment for handling water; and one will make electronics and information systems for the military.