EXTON, PA — Innovative Aerosystems (Nasdaq: ISSC) recently entered into an asset purchase and perpetual license agreement with Honeywell International Inc. (Nasdaq: HON) to acquire aftermarket parts, intellectual property, and program assets tied to select legacy avionics product lines.
The transaction includes contracts, production and repair capabilities, and operational assets such as tooling and test equipment supporting navigation and communication radios, autopilot systems, multifunction displays, and transponders used in Part 23 general aviation aircraft.
The company said the acquisition expands its ability to provide long-term engineering support and supply continuity for operators, maintainers, and original equipment manufacturers.
“These systems continue to play an important role in enabling safe navigation, communication, situational awareness, and automated flight operations for thousands of aircraft,” said Chief Executive Officer Shahram Askarpour.
The acquired assets support a global fleet of general aviation aircraft and are expected to strengthen the company’s aftermarket services and integrated avionics platform.
Innovative Aerosystems said it plans to maintain support for existing customers while using its engineering and manufacturing capabilities to improve repair turnaround times and explore certification and modernization opportunities.
The agreement also expands the company’s customer base and enhances its ability to support legacy avionics systems while developing next-generation flight technologies.
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