ILUS International Inc (OTCMKTS:ILUS) confirmed on August 13, 2021, being focused on M&A strategy to acquire and grow global technology firms. Releasing quarter two results of 2021, ILUS said that revenues have surged, profit has shot up and it is achieving milestones.
ILUS International achieved revenue of $2.86 million in the second quarter, which is a jump of 462% over the first-quarter revenue of $ 509k. Further, ILUS confirmed that quarter two gross profit is up 375% to $ 992k vis-à-vis quarter one profit of $ 209k.
The firm also confirmed bolstering the balance sheet with assets as its management team’s mode of operations has been implemented in a manner to ensure growth and cash liquidity. The firm had acquired BCD Fire, fixed fire systems based out of Dubai. ILUS is looking at the acquisition of companies in the Public Safety sector. It is also having discussions with five more acquisition targets, four of them being in the US and one being in Europe. The strategic acquisitions will be complementing existing technology within ILUS’ portfolio.
The firm also announced a partnership with TakeLeap on April 26, 2021, for delivering virtual reality training packages for fire safety.
ILUS CEO, Nicolas Link said that despite challenges in the quarter, the ILUS team has achieved incredible things on revenues and profits. Link said that it is in a robust position for execution on deals coming up.