Innovative Solutions and Support, Inc. Acquires Aydin Displays

Innovative Solutions and Support, Inc. (the "Company") has acquired all of the membership interests of Sparton Aydin, LLC, doing business as Aydin Displays, for a purchase price of $24.5 million. Aydin Displays specializes in ruggedized displays for defense and commercial applications. The acquisition was financed through the Company's existing credit facility. The agreement includes customary representations, warranties, and covenants, including a five-year non-compete clause for the seller. Ancillary agreements include a Transition Services Agreement and a Supply Agreement. Financial statements and pro forma information for the acquired business are expected to be filed later.