GLENVIEW, IL -- Illinois Tool Works' Power Systems and Electronics business unit's revenues grew 20% year-over-year in the April quarter.

The conglomerate reported overall operating revenue rose 16% for the three months ended April 30. Base revenues made up half the gains, with acquisitions adding five percentage points and currency translation another three points.

ITW expects revenues to grow 16 to 18% this year, 17 to 20% in the July quarter.

The strong results come on the heels of an announcement that ITW might pursue larger acquisitions than it historically has, including targets overseas. The company, which averages nearly one acquisition a week, expects such deals to add $800 million to $1 billion in revenue in 2011 alone.

ITW's vice chairman David Parry last week noted "a pretty strong pipeline for acquisitions. ... It's mostly international rather than domestic."

He also said the company could handle acquisitions up to $2 billion in size, but did not suggest such a deal was in the offing. ITW typically has purchased companies with annual revenues of less than $100 million.

At the SMT Hybrid Packaging trade show in Nuremberg, Germany, earlier this month, there was significant chatter about a possible deal involving another major solder paste company. ITW does not comment on potential acquisitions.

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