ISSC Acquires Aydin Displays to Boost Military Display Tech
ISSC has more than doubled off its 52-week low of $8.13.
Summary
Innovative Solutions & Support (ISSC) has acquired Aydin Displays for $24.5 million in cash, a move that directly expands its military display capabilities. This acquisition adds a specialized product line, which is expected to strengthen ISSC's position with defense contractors. The deal follows $33.5 million in strategic acquisitions funded by new debt, as disclosed in the company's May 10-Q filing, signaling ISSC's continued appetite for M&A. For context, ISSC's Q2 revenue was $22.4 million, providing a baseline for assessing the relative size of this latest acquisition.
At the time of this announcement, ISSC was trading at $19.22 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $343.9M. The 52-week trading range was $8.13 to $30.94. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.