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Innovative Valve Technologies Inc., a Houston-based provider of industrial valve repair and distribution services, said it acquired Cypress Industries Inc. of Schaumburg. Cypress, with annual sales of about $20 million, provides similar services for valves, bearings, and welding. Terms were withheld. Meanwhile, Gibson Electric Co., an Oak Brook-based electrical contractor, said it purchased Communication and Data Services Inc., an Alsip-based telecommunications and network systems contractor. Terms were withheld.




