ITT Inc.

ITT Inc.
Company type	Public
Industry	Manufacturing
Founded	1920
Founder	Hernan Behn, Sosthenes Behn
Headquarters	Stamford, Connecticut, United States
Area served	Worldwide (over 100 countries)
Products	Advanced components for aerospace, transportation, energy, and industrial applications; brands include Goulds Pumps, Cannon connectors, KONI shock absorbers, Enidine energy absorption solutions
Number of employees	10,000+

ITT Inc., previously known as ITT Corporation, is a multinational manufacturing enterprise based in Stamford, Connecticut, United States. The company specializes in producing advanced components for sectors including aerospace, transportation, energy, and industrial applications. ITT’s operations are organized into three primary divisions: Industrial Process, Motion Technologies, and Connect and Control Technologies.

Employing more than 10,000 individuals worldwide and maintaining a presence in over 35 nations, ITT caters to clients across upwards of 100 countries. Its range of products features prominent brands such as Goulds Pumps, Cannon connectors, KONI shock absorbers, and Enidine energy absorption solutions.

Established in 1920 under the name International Telephone & Telegraph, ITT experienced significant growth during the 1960s and 1970s under CEO Harold Geneen, expanding through numerous acquisitions to become a major conglomerate. The company divested its telecommunications division in 1986 and exited the hospitality industry in 1995 by selling Sheraton Hotels and Resorts. In 1996, ITT Industries, Inc. was created as a spin-off entity, which was later renamed ITT Corporation in 2006.

In 2011, ITT separated its defense operations into Exelis Inc. (now integrated with L3Harris Technologies) and spun off its water technology segment as Xylem Inc. The organization adopted the name ITT Inc. in 2016 following a corporate rebranding.

Founding and initial acquisitions

International Telephone & Telegraph (ITT) was founded in 1920 by brothers Hernan Behn' and Colonel Sosthenes Behn. Their early ventures included acquiring the Puerto Rico Telephone Company, Cuban-American Telephone and Telegraph Company, and a half-stake in the Cuban Telephone Company starting in 1914. A significant expansion occurred in 1923 when ITT consolidated telecommunications providers in Spain, laying the groundwork for what would become Telefónica. Between 1922 and 1925, the company expanded its footprint by acquiring several European telephone enterprises to increase market penetration.

After Bell System divested its international operations in 1925, ITT purchased multiple companies from Western Electric, including the Bell Telephone Manufacturing Company (BTM) located in Belgium and British International Western Electric, which was later renamed Standard Telephones and Cables (STC). These acquisitions bolstered ITT’s manufacturing capabilities on a global scale; subsequently, BTM was acquired by Compagnie Générale d'Electricité, while STC became part of Nortel.

Throughout the 1930s, ITT continued to grow by acquiring German electronics firms such as Standard Elektrizitäts-Gesellschaft (SEG) and Mix & Genest, along with Romania’s telecommunications monopoly Societatea Anonima Română de Telefoane. Its principal rival during this period was Theodore Gary & Company’s conglomerate, which operated Associated Telephone and Telegraph along with European manufacturing facilities.

Within the United States, ITT strengthened its position by consolidating the Mackay Companies in 1928 through its subsidiary Postal Telegraph & Cable. This consolidation included key assets like the Commercial Cable Company, Commercial Pacific Cable Company, Postal Telegraph, and Federal Telegraph Company. These strategic acquisitions enhanced ITT’s role in transcontinental communication networks while diversifying its telecommunications portfolio.

German subsidiaries during the Nazi era

On August 3, 1933, Adolf Hitler held a meeting with Sosthenes Behn, who was then serving as CEO of ITT, along with Henry Mann, ITT’s representative in Germany. This encounter was among Hitler's initial meetings with American corporate executives.

In his book Wall Street and the Rise of Hitler, Antony C. Sutton claims that ITT’s German branches made financial contributions to SS chief Heinrich Himmler. ITT, via its subsidiary C. Lorenz AG, possessed a 25% stake in Focke-Wulf, a prominent German aircraft manufacturer responsible for producing vital fighters utilized by the Luftwaffe. During the 1960s, ITT received $27 million as reparations for damage caused by Allied bombings to its Focke-Wulf shares during World War II. Sutton further discloses ITT’s ownership of Signalbau AG, Dr. Erich F. Huth (Signalbau Huth), which supplied radar and radio transceiver devices to the German Wehrmacht in Berlin and Hanover—later becoming a Telefunken facility. Interestingly, while ITT-Focke-Wulf aircraft targeted Allied naval vessels, ITT’s direction-finding technology reportedly aided in safeguarding other ships against torpedo attacks. Evidence of payments to Himmler surfaced in a 1946 investigation conducted by US military banking authorities.

By 1943, ITT had increased its holding in Focke-Wulf Flugzeugbau GmbH to become the largest shareholder with 29%, overtaking Kaffee HAG’s 27% share following the death of its founder Dr. Ludwig Roselius. Records from the US Office of Military Government (OMGUS) highlight the ambiguous involvement of the HAG conglomerate throughout the war.

Acquisitions after World War II

In 1951, ITT expanded into television by purchasing Philo Farnsworth's company and supported Farnsworth’s fusion reactor research until 1967. That same year, ITT obtained majority ownership of Kellogg Switchboard & Supply Company, rebranding it as ITT Kellogg after merging it with Federal Telephone and Radio Corporation. This entity was later known as ITT Telecommunications before reverting back to ITT Kellogg.

A significant subsidiary was American Cable and Radio Corporation, which operated transatlantic communications cables originally from the Commercial Cable Company. Additionally, ITT acquired John J. Nesbitt Inc., a Philadelphia-based manufacturer specializing in heating and air conditioning systems. In 1968, ITT broadened its market presence by purchasing homebuilder Levitt & Sons for approximately $90 million. The acquisition of KONI Group, a shock absorber producer, in 1972 further diversified its business interests.

Telecommunications on an international scale

ITT’s worldwide telecommunications operations included subsidiaries such as Standard Telephones and Cables in both the United Kingdom and Australia; Indosat in Indonesia; Standard Elektrik Lorenz (now integrated into Nokia) and Intermetall Gesellschaft in Germany; Bell Telephone Manufacturing Company in Belgium; along with CGCT and LMT in France. These subsidiaries manufactured equipment based on ITT designs like the Pentaconta crossbar switch and Metaconta stored program control exchanges primarily intended for national telephone operators. Production under license also extended to countries including Poland and Yugoslavia.

At one point, ITT held the largest shareholding position in LM Ericsson but had divested by 1960. Notably, Alec Reeves, an ITT engineer stationed in France during the 1930s, invented pulse-code modulation (PCM), which laid the groundwork for digital voice transmission. Furthermore, Charles K. Kao at STC UK initiated pioneering work on optical fiber technology beginning in 1966, a contribution that earned him the Nobel Prize in Physics in 2009.

Appointment of Harold Geneen

Harold Geneen assumed the role of CEO in 1959 and spearheaded substantial expansion through leveraged buyouts, turning ITT’s relatively small acquisitions into a broad-based conglomerate. In 1965, ITT's $700 million attempt to acquire the ABC television network was halted by federal antitrust authorities concerned about its growing market dominance. To circumvent regulatory restrictions, ITT broadened its scope beyond telecommunications, acquiring more than 300 firms during the 1960s, including Sheraton Hotels, Continental Baking (maker of Wonder Bread), Rayonier, and Avis Rent-a-Car. The company further diversified into sectors such as automotive components, energy, publishing, semiconductors, cosmetics, and education by purchasing Educational Services, Inc. (ITT/ESI). A 1970 bid to take over The Hartford insurance company resulted in a Justice Department lawsuit, compelling ITT to divest certain holdings like Avis.

Geneen’s leadership propelled ITT’s revenue from $700 million in 1960 to $8 billion by 1970, with net income increasing from $29 million to $550 million. Nevertheless, growth decelerated in the late 1960s due to rising interest rates. ITT also expanded its international footprint by acquiring British electronics manufacturer Kolster-Brandes Limited (KB), enhancing its presence in the UK market for televisions, audio equipment, and radios by the end of the 1970s.

Expropriation in Brazil in 1962

During President João Goulart’s tenure in 1962, Rio Grande do Sul Governor Leonel Brizola seized ITT’s Brazilian branch, Companhia Telefônica Nacional. This politically sensitive action strained diplomatic ties between Brazil and the United States and is considered by some scholars as a contributing factor to U.S. backing of the 1964 Brazilian coup d'état. The expropriation remained a divisive topic throughout Goulart’s administration.

Controversy at the 1972 Republican National Convention

ITT became embroiled in controversy surrounding the 1972 Republican National Convention. In May 1971, ITT president Harold Geneen committed $400,000 toward securing the convention for San Diego; however, only $100,000 was publicly reported. The Republican National Committee chose San Diego as the host city in July 1971.

In February 1972, columnist Jack Anderson exposed an internal memo from ITT lobbyist Dita Beard to VP Bill Merriam implying a connection between ITT’s financial support and a favorable resolution of an antitrust case by the Department of Justice. The scandal prompted a Senate inquiry and potential criminal investigations, leading ITT to retract its backing. Due to this controversy and logistical challenges with the venue, the Republican National Convention was relocated to Miami. Special prosecutor Leon Jaworski ultimately found no evidence implicating ITT in criminal wrongdoing.

Nixon aides John Dean and Jeb Stuart Magruder claimed that the Watergate break-in aimed to uncover comparable Democratic fundraising arrangements for their convention that year. This theory is supported by discussions between President Nixon and his chief of staff H. R. Haldeman as well as testimony from E. Howard Hunt but contested by other figures such as G. Gordon Liddy.

Role in Chile's 1973 Pinochet Coup

In 1970, ITT held a controlling 70% stake in CTC (now Movistar Chile) and provided funding to El Mercurio, a conservative Chilean newspaper. The company’s investments in Chile were valued at approximately $200 million. Under CEO Harold Geneen’s direction, ITT contributed $350,000 to Jorge Alessandri, who opposed Salvador Allende. Following Allende’s election victory, ITT offered the CIA $1 million to counter his government; this offer was declined. Declassified CIA records reveal that ITT financially supported groups preparing for a military coup against Allende. On September 28, 1973, ITT's New York office was targeted with a bombing by the Weather Underground as retaliation for its involvement in the coup.

Leadership Transition: Hamilton and Araskog

In March 1977, Lyman C. Hamilton assumed the role of CEO while Geneen continued as chairman. By June 1979, upon discovering Hamilton’s intention to sell ITT’s European consumer goods division, Geneen advocated for Hamilton’s removal. Subsequently, in July 1979, Rand Araskog was appointed CEO and promptly replaced Geneen as chairman; however, Geneen remained on the board for an additional four years.

Over the next twenty years, Araskog systematically reduced ITT’s scope through targeted divestitures. Beginning in 1977, ITT allocated approximately US$1 billion toward the development of the System 1240 (later known as System 12), a digital telephone exchange. Under Araskog’s direction, System 12 became a strategic priority, with profits from other operations redirected to fund its advancement. Designed at ITT’s Advanced Technology Center in Connecticut and produced by subsidiaries such as Belgium’s BTM, the system was engineered to accommodate diverse markets and communication modes ranging from local to long-distance service. Early sales in Europe and Mexico were promising, but integration challenges led to financial setbacks.

Despite skepticism from corporate headquarters, ITT Telecommunications—including ITT Kellogg—pursued entry into the U.S. market. Although sales were publicized in 1984 and 1985, this initiative ultimately failed by early 1986.

ITT sold its global telecommunications equipment operations to Alcatel Alsthom, a subsidiary of CGE, resulting in the formation of Alcatel N.V. in 1986—then ranked as the world’s second-largest telecom entity. Initially holding a 37% stake, ITT divested its remaining shares by March 1992, marking its exit from the telephone business. In 2006, Alcatel Alsthom merged with Lucent to create Alcatel-Lucent.

ITT Educational Services, Inc. was spun off through an IPO in 1994, with ITT retaining an 83% ownership stake. However, by September 2016, ESI announced the closure of all 130 campuses across 38 states after losing federal funding eligibility. Additionally, ITT combined its long-distance division with Metromedia Long Distance in March 1989 to establish Metromedia-ITT, which was acquired by Long Distance Discount Services (LDDS) in 1993; LDDS later rebranded as WorldCom in 1995.

The 1995 Corporate Split

In 1995, during Araskog’s tenure as CEO, ITT divided into three publicly traded companies:

ITT Corp. – In 1997, this entity merged with Starwood Hotels and Resorts, which had acquired Sheraton Hotels. Starwood subsequently sold ITT World Directories to VNU. By 1999, ITT had completely divested from ITT/ESI but continued licensing the ITT Technical Institute brand until its closure in 2016. Also in that year, ITT Corp. adopted the Starwood name.
ITT Hartford – Currently operating as The Hartford Financial Services Group, Inc., it remains a leading insurance provider.
ITT Industries – Retaining this name until 2006, it functioned as a prominent manufacturing and defense contractor. On July 1, 2006, following shareholder approval, ITT Industries changed its name back to ITT Corporation.

Legal Issues

In March 2007, ITT Corporation became the first major defense contractor convicted under the U.S. Arms Export Control Act. The conviction arose from ITT’s unauthorized outsourcing of night vision goggles and classified countermeasure technology to engineers located in Singapore, China, and the United Kingdom. The company received a $100 million fine; half of this amount was permitted for reinvestment into research and development of new night vision technologies while the U.S. government retained ownership rights to any resulting intellectual property.

The Department of Justice determined that ITT intentionally circumvented export regulations by creating a front company and obstructed the investigation to delay prosecution beyond the statute of limitations. This case underscored compliance vulnerabilities within defense contracting and influenced subsequent changes to ITT’s corporate governance and strategic direction.

Additional corporate acquisitions

On June 26, 2007, ITT reached an agreement to purchase the privately owned International Motion Control (IMC) for $395 million, with the transaction completing in September of the same year. The Cleveland facility was shut down by September 2010.

ITT declared on September 18, 2007, its intention to acquire EDO Corporation for $1.7 billion, a deal that was officially closed on December 20, 2007 following shareholder consent.

On April 16, 2009, ITT entered into a contract to acquire Laing GmbH, a German manufacturer specializing in energy-efficient circulator pumps designed for residential and commercial plumbing and HVAC applications.

2011 corporate separation

ITT revealed on January 12, 2011, a strategic plan to restructure by dividing into three separate publicly traded entities. On July 14, 2011, the new companies were identified as:

The Industrial Process & Flow Control segment retained the ITT Corporation name (later rebranded as ITT Inc. in 2016).
The Water & Waste Water business became Xylem Inc., trading under the symbol XYL.
The Defense segment was spun off as Exelis Inc., with ticker XLS; this entity was acquired by Harris Corporation in 2015.

Following the spin-off, ITT shareholders received stock in each of the three independent companies.

Corporate headquarters

In 1929, ITT’s main office was located at 67 Broad Street in Manhattan, New York City. This building functioned as a communications center supporting American submarines during World War II in the Atlantic theater.

From 1961 until 1989, ITT maintained its headquarters at 320 Park Avenue in New York City. Subsequently, the corporate offices relocated to 1330 Sixth Avenue in Manhattan—a property initially owned by ABC and leased to ITT following ABC’s financial difficulties.

In 2022, ITT moved its global headquarters from White Plains, New York to Harbor Point in Stamford, Connecticut.

ITT Avionics

A division of ITT Corporation based in Nutley, New Jersey, ITT Avionics operated a distinctive 300-foot research tower erected in 1947 for microwave communication experiments; these activities ended during the 1970s. The tower was dismantled in 1996 to facilitate site sale preparations.

In October 1989, ITT Avionics secured a contract from Naval Air Systems Command (NAVAIR) to develop an Airborne Self-Protection Jammer (ASPJ), a project undertaken jointly with Westinghouse Electric Corporation. Nevertheless, the government canceled the contract citing convenience after the ASPJ did not pass independent operational test and evaluation (OPEVAL).

In 1991, ITT Avionics obtained a $19.6 million agreement from the United States Air Force to create an "intraflight data link," a communication system intended for tactical airborne units. Later, in 2004, NAVAIR Weapons Division awarded the company a $24.9 million contract for providing engineering software support services to the Tactical Aircraft Electronic Warfare Integrated Program Team at Naval Air Station Point Mugu and Naval Air Weapons Station China Lake in California.

Consumer electronics

Through its former subsidiary Schaub Elektrik Lorenz, ITT manufactured consumer electronics under the ITT Schaub-Lorenz brand name. This lineup included Touring radios and Ideal Color televisions equipped with Heliochrom picture tubes.

Certain television models featured the Ideal-Computer cartridge system that enabled functionalities such as ultrasonic remote controls, teletext decoders, or Tele-Match dedicated video game consoles (distinct from the "ITT Telematch Processor," which was a rebranding of the Fairchild Channel F). This technology was licensed to other German manufacturers as well.

ITT Schaub-Lorenz also pioneered the Digivision, recognized as the first television employing digital signal processing to enhance image quality.

During this era, ITT held ownership of English radio and television manufacturer Kolster-Brandes, eventually integrating it fully into its operations.

Between 1986 and 1987, ITT’s Telecommunications division—including Schaub-Lorenz and Kolster-Brandes—was transferred to Alcatel through French company CGE. By 1988, the consumer electronics division was divested and sold to Nokia, which marketed certain products under the ITT Nokia label. Nokia ceased operations at its German television factories in 1996, likely marking the end of ITT-branded products there earlier.

Since 2006, Karcher corporation has licensed the ITT brand and logo independently from the original ITT group.

Federal Aviation Administration NextGen

In 2007, ITT was awarded a $207 million contract by the Federal Aviation Administration (FAA) to spearhead the design and implementation of the Automatic Dependent Surveillance – Broadcast (ADS-B) system. ADS-B serves as a cornerstone of the FAA's NextGen air traffic control modernization initiative, which focuses on improving safety and operational efficiency in response to increasing air traffic volumes. ITT is responsible for system integration and engineering services, with contract options extending operation and maintenance responsibilities through September 2025. The project consortium includes collaborators such as AT&T, Thales North America, SAIC, PricewaterhouseCoopers, among others.

GeoEye-1

On September 6, 2008, ITT completed delivery of the imaging payload for the GeoEye-1 satellite, which offers advanced high-resolution earth observation capabilities. The satellite is capable of capturing images at 0.41-meter panchromatic and 1.65-meter multispectral resolutions, with geolocation accuracy within three meters on the Earth's surface. GeoEye-1 can acquire up to 700,000 square kilometers of imagery each day, supporting diverse applications including defense, cartography, and environmental surveillance.

External links

Emporis.com