ITT picks energetic name for defense spinoff

Following completion of ITT’s three-way split, the new defense company will be named ITT Exelis, the parent company announced on July 14.

The government contractor announced earlier this week that it has filed Form 10 Registration Statements with the Securities and Exchange Commission to spin off its water-related businesses and ITT’s Defense & Information Solutions segment.

The new company, which will trade on the New York Stock Exchange, will continue to specializing in Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) products and systems, as well as information and technical services.

According to the announcement, ITT Exelis was chosen because it is an energetic name derived from the word “excel,” which is rooted in “ex,” meaning “out in front” or “beyond.”

ITT Corp., of White Plains, N.Y., ranks No. 16 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.