Today, Innovative Solutions & Support (IS&S) announced that it has secured an exclusive license agreement and acquired key assets for specific Communication and Navigation product lines from Honeywell International, Inc. This move builds on the previous Honeywell license and asset acquisition finalized in June 2023.
Under the new agreement, IS&S will obtain exclusive Intellectual Property rights to manufacture, upgrade, and repair additional Honeywell Communication and Navigation products. The assets acquired include the existing inventory necessary for these activities.
“We are excited about this opportunity to expand our licensing agreement with Honeywell,” said Shahram Askarpour, CEO of IS&S. “This aligns with our growth strategy and enhances the success of our previous acquisition. These new product lines will strengthen our offerings across air transport, business aviation, and military sectors. They will also help us forge new customer relationships and maximize the capabilities of our cutting-edge Exton manufacturing facility. The previously licensed Honeywell products have already enabled us to create new revenue streams, improve operational efficiencies, and engage with new customers. We anticipate similar benefits from these new assets.”
Jeff DiGiovanni, CFO of IS&S, added, “The newly licensed product lines complement our existing portfolio and align with our acquisition strategy. Post-transaction, our financial standing remains robust. Our current cash reserves and credit facility provide sufficient liquidity to support ongoing operations and offer the flexibility needed to pursue further growth opportunities, including potential additional acquisitions.”
