Illinois Tool plans to divest two businesses

NEW YORK Aug 11 (Reuters) - Diversified manufacturer Illinois Tool Works Inc (ITW.N) said on Monday its board has authorized a plan to divest its decorative surfaces segment and its industrial software business.

In 2007, the decorative surfaces segment, which produces decorative laminates, flooring, decorative materials and adhesives, had revenues of $1.2 billion.

Illinois Tool has retained Goldman Sachs to advise on the divestiture process for the decorative surfaces units.

The industrial software business called Click Commerce is a supplier of software and consulting services to a number of large, international companies. The unit's revenue in 2007 was $67 million. (Reporting by Euan Rocha, editing by Gerald E. McCormick)