EDO Corporation
 |
|
| Public (NYSE:EDO) | |
| Fate | Acquired by Harris Corporation |
| Predecessor | Edo Aircraft Corporation |
| Successor | Harris Corporation |
| Founded | 1947 |
| Defunct | 2007 |
| Headquarters | New York, NY |
|
Key people
|
James M. Smith, Chairman, President & CEO |
| Revenue |
 $715 million USD (2006) |
|
Number of employees
|
4,000 |
| Website | www.harris.com |
EDO Corporation was an American company, which was acquired by ITT Corporation in 2007. EDO designed and manufactured products for defense, intelligence, and commercial markets, and provided related engineering and professional services. It employed 4,000 people worldwide and had revenues of $715 million in 2006. EDO's assets went to ITT Defense Electronics and Services. As of May 2015, these assets are now part of Harris Corporation
Earl Dodge Osborn founded the Edo Aircraft Corporation in 1925. The company's first successful product line was pontoons for floatplanes. With the outbreak of World War II, the company's focus shifted, and EDO began to provide subassemblies for military aircraft. This shift in emphasis led to the company being renamed the EDO Corporation in November 1947.
EDO became a public company in 1956 with its listing on the , and moved to the in 1983. An agreement was reached September 18, 2007 for ITT Corporation to buy EDO for $1.7 billion. After EDO shareholders' approval, the deal was closed and finalized on December 20, 2007.
On January 12, 2011, the ITT Corporation Board of Directors approved a plan to split the company. On October 31, 2011, ITT Corporation spun off its defense and water technology businesses to form three separate, publicly traded companies. Exelis, Inc. became the company that EDO was subsidiary. On May 29, 2015, Harris Corp. announced the acquisition of Exelis, Inc. EDO remains a subsidiary, the owner just changed.
EDO's resources were aligned into two reporting segments, Electronic Systems & Communications and Engineered Systems & Services, serving six market sectors:
The Command, Control, Communications, and Computers (C4) sector includes two business units: the Antenna Products & Technologies and the Communications & Networking Systems.
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