NEW YORK, NY, Feb. 11, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — ILUS International Inc (OTC: ILUS), ILUS is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. Having completed several acquisitions within its first year since taking over from previous management, ILUS has also since completed its first full financial year. The company is now providing its expected revenue for its current acquisitions and business divisions along with a summary of the plan for each business.
As a young, high-technology company, ILUS has laid a solid foundation through its early acquisitions of disruptive public safety technology companies. ILUS now has several patents, a vast amount of intellectual property, its own global manufacturing facilities, and the beginnings of its own distribution network. Building on this strong foundation, ILUS is now entering its scale-up phase and is expecting 300% growth in 2022. Key to the company’s high valuation potential is its ability to generate high margin sales through its ownership of the entire production and sales lifecycle, combined with its ownership of not one, but several high-growth public safety solutions. ILUS’ management believes that the company has the potential to quintuple its 2022 revenue expectations and generate hundreds of millions in revenue in the next two to three years. With multiple disruptive, high-technology subsidiaries such as Vira Drones and KurveXR, ILUS could achieve valuations into the high hundreds of millions or even billions of dollars for these subsidiaries, considering that several of their competitors have achieved billion-dollar valuations despite being pre-revenue.
Since ILUS began operating under new management in January 2021, the company made 3 acquisitions prior to December 2021. In its first 11 months of operations, ILUS generated $11 million, having achieved nearly 45% growth from the 3rd to the 4th quarter of 2021. ILUS has now acquired 6 companies and is currently completing the acquisition of a further 4 companies. From its completed and current round of acquisitions, ILUS expects to increase its 2022 revenue on a quarterly basis to a run rate of $40 to $55 million.
ILUS is currently integrating its new acquisitions to drive their growth. The company is managing several variables such as the cross-pollination of technologies across the group, hiring and training of new staff, improving the marketing of each acquisition, restructuring divisions of the business, focusing on product certifications, and further patent registrations. These and many more key elements will influence the growth rate of the company, as will factors such as the COVID-19 pandemic becoming more endemic and less disruptive to the company’s growth. These variables play a key role in the company’s associated variable revenue expectation.
ILUS’ first acquisition in January 2021 was that of FireBug, a UK and UAE manufacturer of innovative firefighting equipment and rapid response vehicles which are centred around the acquisition’s disruptive water mist technology that can extinguish multiple classes of fires without the use of additional chemicals and can save up to 65% of the water used in traditional firefighting. This acquisition was followed by that of The Vehicle Converters (TVC) in the UAE, which fabricates and assembles ambulances, police vehicles, security vehicles, mobile workshops and more. ILUS’ third acquisition was that of BCD Fire in the UAE, which supplies and installs fire protection systems in some of Dubai’s most prominent skyscrapers, hotels and resorts, hospitals, and airports. In 2022, ILUS expects to generate $5-6 million from FireBug, $3-4 million from TVC, and $6-8 million from BCD Fire.
ILUS plans to incorporate FireBug’s firefighting equipment and vehicle technology into its Emergency Response Technologies division. Going forward FireBug’s firefighting equipment and vehicles, which are currently manufactured in the UK and UAE, will be manufactured at the company’s new factory in Southeastern Europe and in Houston, Texas for its US customers. In the US, FireBug’s products will initially be distributed by Georgia Fire. ILUS is working on the acquisition of further distributors in the US and globally for the purposes of strengthening its foothold in the industry and for controlling the distribution of FireBug’s products. From Georgia Fire’s current product range alone, ILUS expects to generate a further $4-5 million in annual revenue.
ILUS will also move Bull Head Products and TVC into its Emergency Response Technologies division. Bull Head Products and TVC are both vehicle fabrication and assembly experts and ILUS is planning to merge TVC with Bull Head Products to widen the Bull Head Products product range and bring TVC’s offering to the US market, whilst also establishing Bull Head Products in the UAE to service ILUS’ oil and gas customer base. ILUS expects to generate $3-4 million from Bull Head Products in 2022.
In addition to the above, ILUS aims to add further manufacturing, distribution and technology advancement acquisitions and partnerships to its Emergency Response Technologies division. In this division, ILUS will incorporate current and future patented firefighting technology, disruptive technology such as wearable technology utilizing IoT, robotics and automation, rescue drones, rapid response, and incident management solutions.
BCD Fire will be incorporated into ILUS’ Integrated Systems division which is responsible for the company’s fire protection systems and fixed firefighting systems. To this division, ILUS will also be adding Houston based Precision Powered Products, which currently specializes in the manufacturing for fixed firewater pump systems and houses the engineering skills for the manufacturing of both ILUS fixed firefighting systems and mobile firefighting pumps. ILUS expects to generate $9-11 million from Precision Powered Products in 2022. In addition to fire protection and fixed firefighting systems, ILUS will also incorporate smart sensor technology and aligned solutions such as VR and AR fire safety training into its Integrated Systems division.
ILUS plans to house its newly formedRenewable’s divisionat its new manufacturing facility in Southeastern Europe, where it is going to receive several millions in government subsidies and incentives for employment and operations. Here, the company will manufacture its current ERaptor commercial electric utility vehicles and the expanded ERaptor range.ILUS conservatively expects to generate $3-4 million in ERaptor sales during 2022, with revenue increasing sharply in 2023 as it gains traction with a wider range of vehicles and a more extensive distribution network. The company has a clear strategy for the growth of its Renewable’s division which it will reveal in due course.
Also in Southeastern Europe, where ILUS is acquiring an enormous manufacturing facility through a significant government privatization deal, the company will further develop and manufacture its firefighting equipment and vehicles, drones, ambulances, and military vehicles for export globally. Here too, ILUS will receive several millions in government subsidies, incentives, and potential manufacturing contracts which will substantially reduce manufacturing costs and increase margins.
ILUS recently acquired KurveXR from TakeLeap. KurveXR develops and delivers VR and AR training solutions for public safety, including fire safety, emergency response, community safety, security, and corporate onboarding. The company is currently based out of Dubai, United Arab Emirates with a software development hub in Southeastern Europe. Early in the second quarter of 2022, ILUS will be opening a KurveXR office in Florida, USA. Although ILUS is entering the $500 billion metaverse market through its acquisition of KurveXR, the disruptive technology developed and sold by KurveXR is still in the early stages of being widely accepted and adopted globally, despite the rapidly growing need for the more efficient and cost-effective technology. ILUS therefore expects to generate 2022 revenue from KurveXR in the region of $3-5 million. KurveXR will be targeting global multinationals and holds the potential to rapidly increase revenue from the 3rd and 4th quarters of 2022. Going into 2023, ILUS expects KurveXR to be generating well over $5 million of license revenue per quarter. Although elements of KurveXR’s technology will be incorporated into ILUS’ Integrated Systems division, the company will continue to develop further innovative technologies for multiple sectors of the public safety industry and operate as its own division under ILUS.
Vira Drones, which was acquired by ILUS at the start of 2022, will continue to operate as its own division from its current locations in Switzerland and Germany. Once the technology moves towards larger scale commercial production, the company will shift its manufacturing to Southeastern Europe, where it can scale up production more cost effectively. Vira Drones will begin generating revenue from the 3rd and 4th quarters of 2022 once type-approvals and patents are approved. ILUS expects Vira Drones to generate $1-2 million in 2022 from various proof of concept opportunities, such as with the World Food Programme. With several further opportunities in its pipeline for 4-30 units, this forecast could be comfortably exceeded. The focus for Vira Drones is to register patents, obtain necessary certifications, complete further prototypes, increase manufacturing capability and develop the “flying as a service” model. Delivery in these areas is key to Vira Drones obtaining a multi-billion-dollar valuation in the medium-term future. Once relevant approvals are in place, ILUS is confident that Vira Drones can generate tens of millions and rapidly onwards towards hundreds of millions in revenue
ILUS previously announced that it has partnered with Incident Management Software company, 911Inform and has obtained a global OEM license for the sale of the innovative software. The software solution, which is a game-changing crisis management tool to aid first responders, is currently being sold by ILUS acquisition, BCD Fire. The company is already in discussions with authorities in Singapore, Dubai, and London for large potential projects and ILUS expects to generate $3-6 million from its sales of 911Inform in 2022. ILUS is also working on a large acquisition in this space in a longer-term effort to build a comprehensive rapid response emergency management ecosystem where all ILUS technologies are utilized.
Further 2022 plans by ILUS include its significant entering of the Defense sector and consequently the creation of its Defense division. In addition, ILUS plans to incorporate an upcoming UK acquisition into its Emergency Rescue Technologies division and an upcoming US fixed firefighting systems acquisition into its Integrated Systems division.
From an administration perspective, a significant effort is also being made to consolidate and streamline the multiple businesses and increase efficiencies. One such example is the current implementation of Netsuite’s Enterprise Resource Planning (ERP) Software to integrate resource planning and financial management across the businesses. Given the already substantial challenge to manage so many growing businesses, and with many new deals in the pipeline, ILUS is acutely aware that it needs to scale-up its administration capability. The company is therefore creating four regional management hubs: ILUS Industries USA, ILUS Industries Middle East, ILUS Industries UK and ILUS Industries Europe. These regional subsidiaries will each build their own management teams for the more efficient management and growth within each region.
John-Paul Backwell, Managing Director of ILUS, concluded with the following: “We are really excited about the future valuations which reside within ILUS, and we believe that our technology-based valuations will become substantial in the short to medium-term, superseding that of any revenue-based valuation, given that we are an early-stage business in only its 14th month of operation. We are in the process of implementing a clear plan for the consolidation and growth of our current businesses and establishing the firm foundation required for the integration of several more. There are many variables when it comes to forecasting revenue for a company that has the cross-pollination of technologies and several acquisitions being added every quarter. We have chosen to forecast only our completed and current phase of acquisitions, even though these numbers would be far exceeded as new companies join the ILUS fold and larger deals in our sales pipeline are closed. What’s most important is that we are delivering substantial growth upon a firm foundation. Our team has accomplished a great deal already this year and we have much more still to complete this quarter, including some of our most exciting deals.”
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