Joint Venture • Distribution

ITT Acquires ITT Cannon Korea

On January 1, 1990, ITT acquired distribution company ITT Cannon Korea

Acquisition Context

This is ITT’s 1st transaction in the Distribution sector.
This is ITT’s 1st transaction in South Korea.

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M&A Deal Summary
Date	January 1, 1990
Target	ITT Cannon Korea
Sector	Distribution
Buyer(s)	ITT
Deal Type	Joint Venture

Target Company

ITT Cannon Korea

Seoul,, South Korea

ITT Cannon Korea Ltd.which sells ITT Cannon brand connector products in South Korea and China.ITT Cannon Korea, creating an important local distribution channel for ITT Cannon's wide array of connector products.

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Buyer Overview 1

Buyer

ITT

Stamford, Connecticut, United States

Category	Company
Founded	1920
Sector	Machinery
Employees	10,600
Revenue	3.6B USD (2024)

DESCRIPTION

ITT manufactures engineered critical components and customized technology solutions for growing industrial end-markets in energy infrastructure, electronics, aerospace, and transportation. ITT was founded in 1920 and is based in Stamford, Connecticut.

Deal Context for Buyer	#
Overall	1 of 38
Sector: Distribution	1 of 3
Type: Joint Venture	1 of 1
Country: South Korea	1 of 2
Year: 1990	1 of 1

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
1997-05-23	Goulds Pumps Seneca Falls, New York, United States Goulds Pumps, Inc. offers industrial pumps, valves and monitoring and control equipment, offshore water treatment systems, and plant optimization and efficiency systems, as well as aftermarket services and parts.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

1997-05-23

Goulds Pumps

Seneca Falls, New York, United States

Goulds Pumps, Inc. offers industrial pumps, valves and monitoring and control equipment, offshore water treatment systems, and plant optimization and efficiency systems, as well as aftermarket services and parts.

Buy

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