M&A: INNOVATIVE SOLUTIONS & SUPPORT INC

Form Type: 10-K

Filing Date: 2024-12-30

Corporate Action: Acquisition

Type: New

Accession Number: 000155837024016501

Comments: Innovative Solutions & Support, Inc. reported a significant growth trajectory in fiscal year 2024, culminating with a net sales increase of 35.6% to $47.2 million, up from $34.8 million in the previous fiscal year. The company's net income rose 16.1% to $7.0 million. Noteworthy is the company’s backlog of $89.2 million as of September 30, 2024, which included $74.3 million derived from a recent acquisition on September 27, 2024. The company has made strides in its commercial growth strategy, achieving crucial awards and contracts, including a multi-million dollar production contract for a Multifunction Display with Integrated Mission Computer from a major aerospace company. Furthermore, IS&S has executed several Asset Purchase and License Agreements with Honeywell International, significantly enhancing its capabilities in communication and navigation product lines, essential for military display generators and flight control computers. Total cash consideration for these agreements reached approximately $54 million, highlighting IS&S’s strategic focus on expanding its service offerings in the aviation sector.

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