Xybion sells its electronic-systems business

AUGUST 19--Xybion Corporation (Cedar Knolls, NJ) has sold the business and assets of its wholly owned subsidiary Xybion Electronic Systems Corporation (XES; San Diego, CA) to ITT Industries Inc.

AUGUST 19--Xybion Corporation (Cedar Knolls, NJ) has sold the business and assets of its wholly owned subsidiary Xybion Electronic Systems Corporation (XES; San Diego, CA) to ITT Industries Inc. XES designs, develops, and manufactures intensified video imaging systems, including multispectral, digital, and complimentary metal-oxide semiconductor (CMOS) cameras.

XES imaging cameras and systems have been used worldwide in defense, space, avionics, law enforcement and biomedical research. Terms and conditions of the transaction were not disclosed.

XES operations and personnel will remain a wholly owned subsidiary of ITT Industries Inc. and will be organized within the ITT Industries Night Vision Division in Roanoke, VA. ITT Industries is a producer and supplier of Generation 3 image intensification devices to US and allied military forces. ITT also supplies night-vision equipment to law enforcement, federal agencies, and select commercial markets.

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