IS&S Signs For Exclusive Licensing, Acquisition Of Assets From Honeywell

(RTTNews) - Innovative Solutions & Support, Inc. (ISSC) on Monday announced certain exclusive license agreements and the acquisition of key assets from Honeywell International, Inc. (HON). Financial details of the deal were not disclosed.

As per the terms of the agreement, IS&S will gain exclusive Intellectual Property rights to manufacture, upgrade, and repair select Honeywell Inertial, Communication, and Navigation products. The acquired assets include existing inventory and essential equipment such as tests, tooling, and machinery necessary for the production, repair, and enhancement of these products.

The purchase of the assets was funded through secured bank facilities and the company's existing cash reserves.