ITT Inc. (NYSE: ITT) signed a definitive agreement to acquire Aerospace Contacts LLC, a privately held manufacturer of precision contacts used in aerospace and defense connectors, for $31 million, according to a press release.

Founded in 1999 and based in Gilbert, Arizona, Aerospace Contacts employs approximately 140 people and has been a long-standing supplier to ITT's Cannon unit within its Connect & Control Technologies segment.

The acquisition is expected to close in the third quarter of 2026, subject to customary closing conditions.

Luca Savi, ITT's Chief Executive Officer and President, said the deal reflects the company's "ongoing commitment to executing strategic acquisitions that strengthen ITT's businesses and overall portfolio."