Geneen diversified International Telephone and Telegraph through acquiring shares of companies ranging from the Sheraton Hotel Chain to the Hartford Insurance Company. Geneen grew his firm from $765 million to $8.5 billion in revenues to become one of the largest multinational conglomerates in the world. By the 1970s, International Telephone and Telegraph enjoyed an annual growth rate of 10% and managed 250 companies in some 60 countries.