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The company was founded in 1920 as International Telephone & Telegraph. During the 1960s and 1970s, under the leadership of CEO Harold Geneen, the company rose to prominence as the archetypal conglomerate, deriving its growth from hundreds of acquisitions in diversified industries. ITT divested its telecommunications assets in 1986.
Standardization has been the original purpose of ITU since its inception. Established in 1956 as the International Telephone and Telegraph Consultative Committee, or CCITT (from its French name Comité consultatif international téléphonique et télégraphique), this sector standardizes global telecommunications (except for radio). [40]
The Sovereign State: The Secret History of International Telephone and Telegraph is a non-fiction book by Anthony Sampson published on July 1, 1973, by Hodder & Stoughton Ltd. [1] The book focuses on the history of ITT Corporation to make a broader point about the weakening of the authority of traditional national governments by the multinational corporations.
ITT was founded as the small communications company Puerto Rico Telephone Company by brothers Sosthenes and Hernan Behn. Through a series of business and patent acquisitions, the company grew and was renamed International Telephone and Telegraph in 1920. [5] ITT continued to grow before appointing Harold Geneen as CEO in 1959. Until his ...
From 1959 to 1977 he was the president and CEO of International Telephone and Telegraph Corp. (ITT). He grew the company from a medium-sized business with $765 million sales in 1961 into an international conglomerate with $17 billion sales in 1970.
ITT Inc., then known as International Telephone & Telegraph Co., purchased the Bell System's Caribbean regional operating companies. The consent decree also forced Bell to make all of its patents royalty-free. This led to substantial increases in innovation, in particular in the electronics and computer sectors. [7]
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In view of the basic similarity of many of the technical problems faced by the CCIF and CCIT, a decision was taken in 1956 to merge them into a single entity, the International Telegraph and Telephone Consultative Committee (CCITT, in French: Comité Consultatif International Téléphonique et Télégraphique). [5]