Innovative Solutions and Support, Inc. acquired Assets related to Certain Inertial, Communication and Navigation Product Lines of Honeywell.
July 09, 2023
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Innovative Solutions and Support, Inc. (NasdaqGS:ISSC) agreed to acquire Assets related to Certain Inertial, Communication and Navigation Product Lines of Honeywell on June 30, 2023. Under the asset purchase and license agreement, IS&S will license the exclusive Intellectual Property rights to manufacture, upgrade and repair certain Honeywell Inertial, Communication and Navigation products. The purchased assets include existing inventory as well as test, tooling and other equipment required to manufacture, repair, and upgrade the products. Coincident with this acquisition, IS&S has secured bank facilities to maintain ample liquidity for ongoing operations and potential future acquisitions. These facilities and cash on hand were used to fund the total purchase price for the transaction.
Innovative Solutions and Support, Inc. (NasdaqGS:ISSC) completed the acquisition of Assets related to Certain Inertial, Communication and Navigation Product Lines of Honeywell on June 30, 2023.
Innovative Solutions and Support Inc (IS&S) operates as a systems integrator that designs, develops, manufactures, sells and services air data equipment, engine display systems, standby equipment, primary flight guidance, autothrottles and cockpit display systems for retrofit applications and original equipment manufacturers (OEMs). IS&S supplies integrated Flight Management Systems (FMS), Flat Panel Display Systems (FPDS), FPDS with Autothrottle, air data equipment, Integrated Standby Units (ISU), ISU with Autothrottle and advanced Global Positioning System (GPS) receivers that enable reduced carbon footprint navigation, communication, and navigation products. IS&S offers solutions for the general aviation, commercial air transport, United States Department of Defense (DoD)/governmental and foreign military markets. The Company provides pilots with information to enhance both the safety and efficiency of flying, through its COCKPIT/IP Cockpit Information Portal (CIP) product line.