ILUS International Inc. (OTCMKTS:ILUS) is down 13% in a week. The tech-based enterprises’ acquisition and development company recently completed three acquisitions, including BCD Fire, finalized on April 12, 2021. In addition, the company has also signed two acquisition letters of intent for two US-based firms. Besides BCD Fire currently focusing on supplies, installation, and maintenance of life safety and fixed fire devices in the Middle East, the company is considering purchasing a fixed fire system firm in the US.
BCD Fire, a Dubai-based company, established seven years ago, focuses on life safety and fire systems integration in UAE and t had a Dubai Civil Defence license.Since ILUS acquired it, ILUS management has been working with the company to enhance efficiency, boost recurring revenue from maintenance and implement effective sales strategies. As a result, ILUS is enhancing its team and recently appointed Pawel Zbozekas as Fixed Fire Systems Product manager to lead its fixed water suppression systems development and accreditation. With two acquisitions on the pipeline, ILUS is a stock to watch.
Market Reaction:
On Wednesday, ILUS stock ended flat at $0.0406 with more than 16.93 million shares, compared to its average volume of 13.52 million shares. The stock has moved within a range of $0.0399 – 0.0430 after opening the trade at $0.0421.
