NEW YORK, NY, Feb. 22, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. The company recently held its first quarter board and management team meetings in Dubai, UAE from the 14th to 18th of February. Following these constructive strategic meetings, the company has chosen to update its Shareholders and Interested parties on current progress, short-term deliverables, and upcoming plans.
In terms of progress, ILUS has concluded its first round of manufacturing and distribution acquisitions, with one still to be announced that the market is aware of. This will be done once the acquisition has completed additional documentation and notified its employees. In addition to the completed acquisition of required US manufacturing and distribution capability, ILUS also acquired the ground-breaking innovative technology businesses, Vira Drones and KurveXR. Furthermore, ILUS has received approval for the go-ahead of its first phase deal in Southeastern Europe, which it will announce soon. With several government departments involved, ILUS is reliant on each to complete their administrative processes before it can announce the full details of the deal, which includes substantial government subsidies and incentives.
In addition to completing its first phase of acquisitions, ILUS has successfully raised $15 million in funding to develop and drive these businesses forward. This includes funding for further business optimization and for ILUS’ next round of acquisitions which have been progressing behind the scenes for many months already. ILUS remains in a very strong position to exceed its revenue targets for 2022 and deliver on key milestones during the year which it has previously communicated to its Shareholders.
After reviewing its shortlisted acquisition targets, the ILUS board has agreed the next round of acquisitions, many of which have already gone through their second rounds of due diligence. With a more streamlined process being implemented, the ILUS acquisition team will now be working hard to see these targeted deals through to completion. With an extensive acquisition pipeline, the board is targeting 2-3 completed acquisitions per quarter and it has subsequently approved further expansion of the acquisition team to ensure delivery of this target.
In line with previously communicated milestones for 2022, ILUS has already started the process of getting its acquired companies audited. These audits are important not only for ILUS to become fully reporting, but also for several valuations which are due to take place over the coming months.
During last week’s meetings, the ILUS board also approved the hiring of numerous important recruits to support the management and growth of its latest acquisitions and in preparation for the next phase. ILUS will be adding 25 key members of staff to its team over the next six months, excluding the 300 it plans to add in Southeastern Europe. In addition to the planned opening of its new US headquarters in Boca Raton, USA, ILUS will also be moving its administration, finance, operations, sales, and marketing teams into a new office in Dubai, UAE, with the Dubai offices capable of supporting up to 90 team members. The office in Boca Raton, which is in the process of being fitted out, will support 10 team members which ILUS is already in the process of hiring. The ILUS manufacturing facility in Dubai, UAE which is currently utilized by its acquisitions FireBug, The Vehicle Converters and BCD Fire, will now have additional space available as required for their growing order intake and planned projects.
ILUS is currently in the process of setting up the legal entities for its subsidiary companies, including the previously mentioned Emergency Response Technologies (ERT) business, which will be a Delaware, US corporation. The company is also registering a further five Delaware entities, including for the likes of Vira Drones. These companies should be found on public records in the coming days and weeks. Following on from previously announced plans, ILUS is focused on growing ERT aggressively with further acquisitions to be added over the coming months, including the execution of a very large acquisition in the US. Both ERT and Vira Drones are integral to the delivery of very significant ILUS milestones over the coming months. ILUS is creating these legal entity subsidiary companies to allow the consolidation of the assets which it has already acquired and will be acquiring to meet its strategic objectives.
ILUS announced last week that recent acquisition, Vira Drones, is in discussions regarding pre-orders for its rescue drones. This follows several meetings held by Vira Drones with customers and partners since its acquisition by ILUS. Last week, ILUS successfully mapped out the strategic objectives and rollout plans for Vira Drones, including their production, marketing, and exhibition plans. With the ILUS board agreeing that Vira Drones holds massive growth and valuation potential, it has identified and is further identifying potential technology acquisitions for Vira Drones itself. The goal of these acquisitions is to acquire advanced technological and engineering capability which will rapidly accelerate the delivery of ILUS’ strategic objectives for Vira Drones.
ILUS will be exhibiting some of its current products at FDIC in Indianapolis, US from the 25th to 30th of April 2022. The company will also exhibit at Interschutz in Hannover, Germany from the 20th to 25th June 2022, where Vira Drones will showcase its rescue and logistics drones.
ILUS plans to reveal an extensive range of revolutionary wildland firefighting products and solutions at several exhibitions in the US during 2022, following successful completion of a significant acquisition which it is in promising discussions with. ILUS has been working on the acquisition of an impressive range of wildland firefighting equipment, which the company is hoping to have on sale during the early part of the rapidly approaching wildfire season. ILUS will add substantial revenue through this acquisition, whose products will be sold through its extensive network of existing distributors in the US and globally, as well as through ILUS’ recent acquisition, Georgia Fire and Rescue Supply. ILUS is also in discussions with several more potential US distribution acquisitions to further accelerate its expansion and strengthen its position in the US fire and rescue market.
ILUS Managing Director, John-Paul Backwell, commented: “Following an intense and successful week of meetings, we are more confident than ever that we have the strategy in place and the means to deliver on our next phase of acquisitions which will give us a massive leap forward in terms of both technology and revenue. We are already implementing the next steps for delivering the plans which were communicated at our Annual Shareholders Meeting. We are limited in terms of what we can say, but it’s very exciting to see it all coming together and we look forward to the day where we can reveal the whole picture to our long-term Shareholders and those who have been following our journey.”
For further information on the companies, please see their communication channels:
Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcastsalso may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels:
website: https://ilus-group.com Twitter: OTC_ILUS
Note: ILUS Coin does not sit within ILUS International Inc (Ilustrato Pictures International Inc), so the public are recommended to follow the correct Media Channels relating to the public company OTC: ILUS.
The content is by GlobeNewswire. DKODING Media is not responsible for the content provided or any links related to this content. DKODING Media is not responsible for the correctness, topicality or the quality of the content.