Cooper Industries plc recently announced the acquisition of Gitiesse srl (Gitiesse), an Italy-based, privately owned manufacturer of marine and oil and gas communications systems. Gitiesse specializes in the manufacture of digital integrated multimedia communications systems (IMCOS) for vessels worldwide. Gitiesse will become part of the Cooper Safety division of Cooper Industries."This will be the third acquisition we have made into our explosion-proof harsh and hazardous environment platform within the last year and demonstrates our commitment to enhancing our portfolio with additional technology and capability. Gitiesse represents a strategic fit with Cooper Safety's existing offering of MEDC explosion-proof beacons and sounders, Hernis CCTV and Cooper Crouse-Hinds' global portfolio of harsh and hazardous instrumentation solutions," said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian. "This acquisition supports our globalization initiative, as Gitiesse has a significant world-wide presence in the marine market, including strong positions in both Europe and Asia. Additionally, Gitiesse's products complement the solutions Cooper Safety, Cooper Crouse Hinds and Cooper B-Line are able to jointly bring to our global oil & gas customers.""Cooper has an exceptionally strong balance sheet and continues to maintain a focused and disciplined acquisition strategy," said Hachigian. "We remain committed to building key business and technology platforms that provide substantial growth in more specification-driven end markets."
