ITT Industries, Inc.

ITT Inc.

Company type	Public
Industry	Manufacturing
Predecessor	International Telephone & Telegraph
Founded	1920 (1920)
Founder	Hernan Behn and Sosthenes Behn
Headquarters	Stamford, Connecticut , United States
Area served	Worldwide (operations in more than 35 countries, clients in over 100 nations)
Products	Specialized components for aerospace, transportation, energy, industrial sectors; notable brands include Goulds Pumps, Cannon connectors, KONI shock absorbers, Enidine energy absorption products
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 focuses on delivering specialized components tailored for the aerospace, transportation, energy, and industrial sectors. ITT is organized into three primary divisions: Industrial Process, Motion Technologies, and Connect and Control Technologies.

Employing over 10,000 people worldwide and maintaining operations in more than 35 countries, ITT caters to clients across upwards of 100 nations. Notable brands under its umbrella include Goulds Pumps, Cannon connectors, KONI shock absorbers, and Enidine energy absorption products.

Established in 1920 under the name International Telephone & Telegraph, ITT evolved into a prominent conglomerate during the 1960s and 1970s under the leadership of CEO Harold Geneen, expanding aggressively through numerous acquisitions across varied industries. The company exited the telecommunications sector in 1986 and divested its hospitality assets, including Sheraton Hotels and Resorts, by 1995.

The current corporate structure was formed in 1996 as ITT Industries, Inc., later rebranded as ITT Corporation in 2006. A major reorganization took place in 2011 when ITT spun off its defense division into Exelis Inc. (now integrated with L3Harris Technologies) and separated its water technology segment into Xylem Inc.. The firm adopted the name ITT Inc. in 2016.

In 2022, ITT posted revenues amounting to US$2.988 billion alongside a net profit of US$367 million, underscoring its strategic focus and leadership dedicated to maintaining growth within its specialized markets.

Origins and initial expansions

International Telephone & Telegraph (ITT) was founded in 1920 by brothers Hernan Behn and Colonel Sosthenes Behn, following their earlier purchase of the Puerto Rico Telephone Company in 1914, along with stakes in the Cuban-American Telephone and Telegraph Company and a fifty percent share of the Cuban Telephone Company. ITT’s first significant growth milestone occurred in 1923 through the consolidation of telecommunications providers in Spain, which laid the groundwork for what would become Telefónica. Between 1922 and 1925, ITT expanded its footprint by acquiring multiple European telephone enterprises.

In 1925, as Bell System divested some of its international holdings, ITT acquired critical assets from Western Electric including the Bell Telephone Manufacturing Company (BTM) based in Belgium and International Western Electric located in Britain—later renamed Standard Telephones and Cables (STC). These purchases bolstered ITT’s global telecommunications manufacturing presence.

Throughout the 1930s, ITT continued its expansion by taking over German electronics companies Standard Elektrizitäts-Gesellschaft (SEG) and Mix & Genest, as well as Romania’s telecom monopoly Societatea Anonima Română de Telefoane. Its chief competitor during this period was Theodore Gary & Company, which operated Associated Telephone and Telegraph alongside European manufacturing facilities.

Within the United States, ITT strengthened its market position in 1928 by acquiring the Mackay Companies through its subsidiary Postal Telegraph & Cable. This transaction included Commercial Cable Company, Commercial Pacific Cable Company, Postal Telegraph, and Federal Telegraph Company—significantly enhancing ITT’s telecommunications infrastructure capabilities.

German subsidiaries during the Nazi era

On August 3, 1933, Adolf Hitler held a meeting with Sosthenes Behn, who was then the CEO of ITT, along with his German agent Henry Mann. This encounter was among Hitler’s earliest engagements with American business leaders.

In his book Wall Street and the Rise of Hitler, Antony C. Sutton claims that ITT’s subsidiaries made financial contributions to SS chief Heinrich Himmler. Through its subsidiary C. Lorenz AG, ITT possessed a 25% stake in Focke-Wulf, a prominent German aircraft manufacturer responsible for producing notable Luftwaffe fighter planes. In the 1960s, ITT received $27 million in reparations for damages inflicted by Allied bombing on its Focke-Wulf factory during World War II. Sutton also notes ITT’s shareholding in Signalbau AG, Dr. Erich F. Huth, a supplier of radar and transceiver devices to the German Wehrmacht, operating in Berlin, Hanover (later known as Telefunken), and other locations. While Focke-Wulf aircraft targeted Allied naval vessels and ITT communication systems supported German U-boats, ITT’s direction-finder technology also contributed to protecting some ships from torpedo attacks. Evidence of payments to Himmler emerged in a 1946 US military banking inquiry.

By 1943, ITT had increased its ownership in Focke-Wulf Flugzeugbau GmbH to 29%, becoming the largest shareholder and overtaking Kaffee HAG’s 27% stake following the death of its leader, Dr. Ludwig Roselius. Postwar American records suggest that the precise involvement of the HAG conglomerate during WWII remains uncertain.

Acquisitions following World War II

In 1951, ITT entered the television industry by acquiring Philo Farnsworth's company, also providing funding for Farnsworth's fusion reactor research until 1967. That same year, ITT obtained majority ownership of Kellogg Switchboard & Supply Company, rebranding it as ITT Kellogg and later ITT Telecommunications, before reverting to ITT Kellogg after merging with Federal Telephone and Radio Corporation.

Among its significant subsidiaries was American Cable and Radio Corporation, which operated transatlantic cables originally from Commercial Cable Company. Additionally, ITT acquired John J. Nesbitt Inc., a Philadelphia-based HVAC manufacturer. In 1968, ITT expanded into residential construction by purchasing Levitt & Sons for approximately $90 million. The portfolio further grew in 1972 with the addition of KONI Group, known for manufacturing shock absorbers.

Global telecommunications operations

ITT’s international telecommunications manufacturing network included Standard Telephones and Cables in the United Kingdom and Australia; Indosat in Indonesia; Standard Elektrik Lorenz in Germany (now integrated into Nokia); and Intermetall Gesellschaft in Germany, which was acquired from Clevite in 1965. Other subsidiaries encompassed Belgium’s Bell Telephone Manufacturing Company and France’s CGCT and LMT. These entities produced equipment designed by ITT such as the Pentaconta crossbar switch and Metaconta stored program control exchanges for national telephone systems, with licensed manufacturing also taking place in Poland and Yugoslavia.

At one point, ITT was the largest shareholder in Sweden's LM Ericsson but divested its holdings by 1960. Notably, Alec Reeves, an ITT engineer, invented pulse-code modulation (PCM) during the 1930s—a technology essential to digital voice transmission. Furthermore, Charles K. Kao at STC UK pioneered optical fiber communications starting in 1966, an achievement that earned him the Nobel Prize in Physics in 2009.

Appointment of Harold Geneen

In 1959, Harold Geneen assumed the role of CEO and revolutionized ITT's corporate approach by utilizing leveraged buyouts, which fueled significant expansion throughout the 1960s. ITT's proposed $700 million purchase of ABC in 1965 was halted by federal antitrust authorities concerned about the company's growing market dominance. To continue expanding without regulatory obstacles, ITT broadened its portfolio beyond telecommunications, acquiring more than 300 firms during that decade. Notable acquisitions included Sheraton Hotels, Continental Baking (known for Wonder Bread), Rayonier, and Avis Rent-a-Car. The company also ventured into sectors such as automotive components, energy, publishing, semiconductors, cosmetics, and for-profit education through the 1966 acquisition of Educational Services, Inc. (ITT/ESI). A 1970 bid to take over The Hartford insurance company led to a Justice Department lawsuit, compelling ITT to divest certain assets including Avis.

Thanks to Geneen’s strategic direction, ITT’s revenue soared from $700 million in 1960 to $8 billion by 1970, with earnings increasing from $29 million to $550 million. Nevertheless, higher interest rates in the late 1960s dampened financial gains.

In the United Kingdom, ITT acquired the struggling electronics firm Kolster-Brandes Limited (KB) during the late 1960s. By rebranding products under the ITT name, the company established a solid foothold in televisions, audio equipment, and portable radios by the late 1970s.

Expropriation in Brazil, 1962

In February 1962, Governor Leonel Brizola of Rio Grande do Sul expropriated ITT’s Brazilian subsidiary, Companhia Telefônica Nacional, during President João Goulart’s administration. This politically motivated seizure was never officially supported by Goulart and caused significant tension between Brazil and the United States. Some analysts associate this expropriation with U.S. backing of the 1964 Brazilian coup d'état, underscoring its influence on ITT’s international operations and exposure to geopolitical risks.

Controversy at the 1972 Republican National Convention

ITT became involved in a controversy linked to the 1972 Republican National Convention. In May 1971, ITT president Geneen committed $400,000 to help secure the convention’s location in San Diego; however, only $100,000 was publicly acknowledged. The Republican National Committee chose San Diego as the venue in July 1971.

In February 1972, columnist Jack Anderson disclosed an internal memorandum implying a connection between ITT's financial support and a favorable resolution of an antitrust case by the Department of Justice. This scandal led to a Senate inquiry and potential criminal investigations, prompting ITT to withdraw its backing. Due to these issues and logistical challenges, the convention was ultimately moved to Miami. Special prosecutor Leon Jaworski concluded there was no evidence of criminal wrongdoing by ITT.

Nixon aides John Dean and Jeb Stuart Magruder claimed that fears over similar funding arrangements by the Democratic Committee for its 1972 convention motivated the Watergate break-in. This theory is supported by conversations involving President Nixon and H. R. Haldeman as well as testimony from E. Howard Hunt but contested by figures such as G. Gordon Liddy.

Role in the 1973 Chilean Coup Led by Pinochet

By 1970, ITT held a 70% stake in CTC (the Chilean Telephone Company, currently known as Movistar Chile) and had invested approximately $200 million within Chile. During Harold Geneen’s tenure as CEO, ITT contributed $350,000 to Jorge Alessandri, who opposed Salvador Allende. Following Allende's election victory, ITT proposed providing the CIA with $1 million to counter his administration; however, this offer was declined. Declassified documents from the CIA later disclosed that ITT financially backed groups opposing Allende’s government to facilitate a military coup. On September 28, 1973, in retaliation for ITT’s participation in the coup d’état, the Weather Underground detonated a bomb at an ITT facility in New York City.

Transition After Geneen: Leadership of Hamilton and Araskog

Lyman C. Hamilton assumed the CEO position in March 1977 while Geneen retained his role 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 quickly orchestrated the board’s decision to remove Geneen from the chairman role, although Geneen remained on the board for an additional four years.

Over the following twenty years, Araskog oversaw the extensive dismantling of ITT, divesting most of its assets. Starting in 1977, ITT invested roughly US$1 billion to develop the System 12 digital telephone exchange—a telecommunications platform designed for global application across local and long-distance services. The project was spearheaded by ITT’s Advanced Technology Center in Connecticut with manufacturing handled by subsidiaries such as Belgium’s BTM. While initial sales performed well in Europe and Mexico, integration setbacks led to financial losses. Efforts by ITT Telecommunications in Raleigh to implement System 12 domestically were unsuccessful, culminating in project termination by early 1986.

ITT eventually sold its telecommunications operations, including ITT Kellogg, to Alcatel Alsthom (a CGE subsidiary), which then established Alcatel N.V. in 1986—ranking as the world’s second-largest telecom firm at that time. Although ITT initially maintained a 37% ownership stake, it divested all remaining shares by 1992, fully exiting the telephone sector. In 2006, Alcatel Alsthom merged with Lucent Technologies to form Alcatel-Lucent.

ITT Educational Services, Inc., recognized for operating ITT Technical Institute, was spun off through an IPO in 1994 with ITT retaining an 83% share. However, all 130 campuses closed by September 2016 following revocation of federal funding eligibility. In March 1989, ITT merged its long-distance telephone division with Metromedia Long Distance to create Metromedia-ITT; this entity was acquired by LDDS (later known as WorldCom) in 1993.

This era signified profound transformations within ITT’s corporate structure and business focus through asset sales and strategic realignment under Araskog’s guidance.

The 1995 Corporate Division

In 1995, guided by CEO Araskog, ITT separated into three publicly traded companies:

• ITT Corp. – In 1997, ITT Corp. merged with Starwood, which sought to acquire Sheraton Hotels and Resorts. 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 during that year, ITT Corp. adopted the Starwood name.
• ITT Hartford – Now operating as The Hartford Financial Services Group, Inc., it remains a leading insurance provider.
• ITT Industries – This division retained its name until 2006 and functioned as a major manufacturing and defense contractor. On July 1, 2006, shareholders approved reverting its name back to ITT Corporation.

Criminal prosecution

In March 2007, ITT Corporation became the first prominent defense contractor to be found guilty of breaching the U.S. Arms Export Control Act. The company faced a $100 million penalty for unlawfully exporting night vision goggles and sensitive countermeasure technologies to engineers located in Singapore, China, and the United Kingdom. Half of this penalty was designated for research and development of advanced night vision technologies, with any resulting intellectual property rights transferred to the U.S. government.

The U.S. Department of Justice determined that ITT evaded export regulations by creating a front company and obstructed the investigation to postpone legal proceedings. U.S. Attorney John L. Brownlee stated that the corporation sought "to essentially run out the clock on the statute of limitations."

Further corporate acquisitions

On June 26, 2007, ITT announced its intention to purchase the privately owned International Motion Control (IMC) for $395 million, completing the acquisition in September 2007. The Cleveland facility was subsequently shut down in 2010.

Later that year, on September 18, 2007, ITT declared a $1.7 billion deal to acquire EDO Corporation, which was finalized on December 20, 2007 following approval from shareholders.

On April 16, 2009, ITT entered into an agreement to acquire Laing GmbH, a German manufacturer specializing in energy-efficient circulator pumps widely used in residential and commercial plumbing as well as HVAC applications.

2011 breakup

On January 12, 2011, ITT revealed plans for a strategic restructuring that involved dividing into three separate publicly traded companies. By July 14, 2011, these entities were named as follows:

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

Shareholders of the original ITT received stock in all three newly independent companies after the split.

Headquarters

ITT’s headquarters were located at 67 Broad Street in Manhattan, New York City beginning in 1929. This site served as a communications center during World War II for U.S. submarines operating in the Atlantic Ocean.

Between 1961 and 1989, headquarters moved to 320 Park Avenue in New York City. Subsequently, ITT occupied 1330 Sixth Avenue in Manhattan—a building initially owned by ABC—which ITT leased following ABC’s financial difficulties.

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

ITT Avionics

Based in Nutley, New Jersey, ITT Avionics operated a distinctive 300-foot tower constructed in 1947 dedicated to microwave communication research; this activity ended during the 1970s and the tower was demolished in 1996 to facilitate site sale preparations.

In October 1989, ITT Avionics secured a contract from the Naval Air Systems Command (NAVAIR) alongside Westinghouse Electric Corporation to develop an Airborne Self-Protection Jammer (ASPJ). Both firms collaborated with the U.S. government on this project; however, the contract was canceled for convenience after the system failed its independent operational test and evaluation (OPEVAL).

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

Consumer electronics

ITT, through its former subsidiary Schaub Elektrik Lorenz, manufactured consumer electronic products under the ITT Schaub-Lorenz label. This lineup included Touring radios and Ideal Color television sets equipped with Heliochrom picture tubes.

Certain models featured the Ideal-Computer cartridge platform, which supported technologies such as ultrasonic remote controls, teletext decoders, and the dedicated video game system called Tele-Match, distinct from the "ITT Telematch Processor" console. This cartridge system was also licensed to other German electronics manufacturers.

The company pioneered the Digivision, recognized as the first television to apply digital signal processing techniques to enhance image quality.

During this era, ITT completed the full acquisition of the British radio and television maker Kolster-Brandes.

Between 1986 and 1987, ITT's Telecommunications segment—including Schaub-Lorenz and Kolster-Brandes—was transferred to Alcatel through the French corporation CGE. In 1988, ITT divested its consumer electronics division, which was acquired by Nokia. Some products were subsequently marketed under the ITT Nokia brand. Nokia ceased operations at its German television manufacturing plants in 1996, likely marking the end of ITT-branded products around that time.

Since 2006, the ITT trademark and logo have been licensed to Karcher Corporation, operating 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 deployment of the Automatic Dependent Surveillance – Broadcast (ADS-B) system. ADS-B is a cornerstone of the FAA's NextGen modernization initiative, aimed at improving safety and operational efficiency within U.S. air traffic management. ITT is responsible for overall system integration and engineering, with contract options extending operations and maintenance responsibilities through September 2025. The project team includes collaborators such as AT&T, Thales North America, SAIC, PricewaterhouseCoopers, among others.

GeoEye-1

On September 6, 2008, ITT delivered the imaging payload for the GeoEye-1 satellite, enabling advanced high-resolution Earth observation capabilities. The satellite captures images with panchromatic resolution of 0.41 meters and multispectral resolution of 1.65 meters, with geolocation accuracy within three meters on Earth's surface. GeoEye-1 can acquire up to 700,000 square kilometers of panchromatic imagery daily, serving diverse commercial and governmental applications.

See also

• ITT Visual Information Solutions
• ITT Interconnect Solutions
• Top 100 US Federal Contractors

Further reading

• Calvo, Angel. "State, firms and technology. The rise of multinational telecommunications companies: ITT and the Compañía Telefónica Nacional de España, 1924–1945." Business History (2008) 50#4 pp: 455–473.
• Ledbetter, Rosanna. "ITT: A multinational corporation in Latin America during World War II." Historian (1985) 47#4 pp: 524–537.
• Sisaye, Seleshi. "Contingencies influencing the effectiveness of acquisition-based corporate growth and development strategies: the case of ITT, 1920-1997." Leadership & Organization Development Journal (1998) 19#5 pp: 231–255.

External links

• Emporis.com