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ITT acquires Kodak’s remote sensing unit

ITT Industries, a maker of motion and electronic technology products, has recently completed the purchase of Eastman Kodak Co.’s remote sensing systems division for $725 million in cash in ITT’s third acquisition this year. ITT said combining its space payload business with the Kodak unit, which makes high-resolution satellite imaging systems, will create a full-service satellite payload supplier to compete in the remote-sensing market.