The Toro Company announced that it has signed a letter of intent to purchase the stock of Electronic Industrial Controls, Inc. (EICON), and irrigation controller engineering and manufacturing company in Englewood, Colo., for an undisclosed sum.

The purchase will strengthen Toro's product offering. The company also will gain valuable engineering expertise to help expand its controller segment in the residential and commercial markets.

Gary and Mary Jane Henry started EICON in 1969, developing the first radio-maintained remote control for irrigation application. EICON currently has seven employees involved in the design, building and sales of the company's equipment. They will become Toro employees when the deal is complete.