ITT sells engineering and technical assistance services business CAS for $235 million

ITT sells systems engineering for $235 million

MCLEAN, Va. — ITT Corp. will sell its systems engineering and technical assistance services business to Wyle Inc. for $235 million, the defense contractor said Monday.

The sale of CAS Inc. is expected to close by the end of this year.

CAS, based in Huntsville, Ala., employs about 1,100 people. Wyle, a provider of science, aerospace engineering and information technology services to the federal government, is privately held.

Shares of ITT rose 31 cents to $46.34 in late morning trading.