ITT Gets $1.3B NASA Deal For Telemetry, Tracking Of Near-Earth Space Missions

NASA’s Goddard Space Flight Center has awarded ITT Corp. a $1.3 billion contract for telemetry and tracking for near-earth space missions.

Under terms of the deal, ITT will support NASA’s Space and Near Earth Networks, which provide communications and tracking services for the International Space Station, the space shuttle and the Hubble Space Telescope.

The contract will last more than five years and includes two yearlong option periods, with a maximum value of $1.26 billion. ITT is an industrial manufacturer that makes products ranging from wastewater handling systems to electronic warfare technologies for military aircraft.

Shares of ITT climbed $1.28, or three percent, to $44.64 in trading Friday.