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OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Begins Due Diligence on Potential Asian Acquisition With Annual Revenue Exceeding $30 Million
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Begins Due Diligence on Potential Asian Acquisition With Annual Revenue Exceeding $30 Million.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, Dec. 09, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS): ILUS remains focussed on its M&A strategy of acquiring and growing global technology companies. The company acquired three companies in its first two quarters of 2021, one in the UK and two in the Middle East. During Q3 and Q4, ILUS signed pre-contract agreements for the acquisition of three companies in the United States, and more recently with a UK-based group of four companies, which it is due to announce soon. ILUS’ team of attorneys are very close to the completion of the three US acquisitions where ILUS has already agreed and signed pre-contract agreements. The company is confidently aiming to complete the transactions of at least two of the three acquisitions before year end although possibly before Christmas, following which it will be able to announce full details on the acquisitions, with the ILUS sales and marketing teams already involved in implementation planning for as soon as the transactions close. Meanwhile, ILUS has since been conducting due diligence on further strategically aligned acquisition targets in the US, Canada, UK, and Europe, and has regularly been discussing acquisition opportunities with several Asian companies but wished to update Shareholders that it has taken further steps forward towards the acquisition of a very profitable, prominent Asian technology development and manufacturing company which holds enormous potential for expansion. ILUS is targeting the acquisition of an Asian headquartered Group of companies which operate in the emergency response, aerospace, defence, logistics and security solutions sectors. The group designs, engineers and manufactures a diverse range of solutions for the public safety industry, spanning from firefighting vehicles right through to robotic automation solutions which are used in global manufacturing plants. The group already has a strong footprint in Asia with global customers that include well-known aviation companies, defence manufacturers and international organizations. ILUS is confident that for many reasons, this would be a very well-aligned acquisition. It confirmed that discussions have gained momentum and are moving quickly, with further details to be shared in due course as various legal stages are surpassed. As part of its aggressive g...