RAE Systems Signs Definitive Agreement to Be Acquired by Battery Ventures for $1.60 per Share

RAE Systems Inc. (AMEX:RAE), a leader in delivering innovative sensor solutions to serve industrial, energy, environmental, and government safety markets worldwide, signed a definitive agreement to be acquired for $1.60 per share in cash by an affiliate of Battery Ventures, a multi-stage investment firm focused on technology and innovation worldwide. The purchase price represents a premium of approximately 53.8% over RAE Systems' closing share price on September 17, 2010, and a premium of approximately 85.1% over RAE Systems' average closing share price for the 30 trading days ending on September 17, 2010.

This transaction is subject to customary closing conditions, including the approval of RAE Systems' stockholders. There is no financing condition to the transaction.

ITT To Enhance Its Global Analytical Instrumentation Business with Acquisition of O.I. Corporation

ITT Corporation (NYSE: ITT) and O.I. Corporation (NASDAQ: OICO) today announced that they have entered into a definitive agreement for ITT to acquire all outstanding shares of O.I. Corporation, “OI”, for approximately $29 million.

OI’s Board of Directors has unanimously approved the transaction, which is subject to approval from OI’s shareholders and other closing conditions, and is expected to close in late 2010.

Enhancing ITT Analytics
OI is a leading provider of innovative instrumentation for laboratory and environmental testing in the pharmaceutical, petrochemical, power and industrial markets. The company’s portfolio will enhance ITT’s Analytics business, which was formed earlier this year with ITT’s acquisition of Nova Analytics.