NEW YORK, NY, Aug. 10, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) (Ilustrato Pictures International Inc) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. The company recently joined forces with the world’s leading haptic suit manufacturer to produce the ILUS Suit for defense and emergency response training and monitoring. Following record second quarter revenue announced yesterday, ILUS is also in the final stages of due diligence for five further acquisitions, adding additional manufacturing capability, patented technology, and substantial revenue to the group.
At the ILUS Annual Shareholder Meeting held earlier this year, the company spoke of its vision for wearable technology to be used in firefighting and emergency response. Following through on this vision, ILUS has officially launched its wearable technology project with the goal of utilizing big data and the latest in artificial intelligence to train and protect first responders and warfighters. The company is entering into a Joint Venture with what it believes is the world's leading haptic suit manufacturer and will be launching the ILUS Suit.
The software technology for the specific scenarios in which the suit will be used is currently being developed by the existing ILUS acquisition, KurveXR. The company is initially focusing on software development for the defense and firefighting sectors. In training scenarios, the haptic suits provide real world feedback and monitoring capability. In a virtual reality training scenario using the suit, the trainee can feel heat, cold, rain and realistic real-life stimuli as well as haptic feedback that realistically mimics weapon recoil or the kick from a firefighting nozzle. The suit’s sensors capture and record motion for performance monitoring which is so vital in defense and emergency response settings. It also monitors the user’s physical state through its biometry system. The cardiorespiratory system is monitored to give feedback on the user’s oxygen saturation levels, heart rate and pulse rate variability. Although this is only a snapshot of the suit’s capability, the data it provides enables KurveXR to develop personalized Virtual and Augmented Reality content for military and firefighting training, as well as related applications. In addition to training, the solution is also being developed for use during live missions or incidents to monitor performance, collect and analyze data, as well as provide dynamic situational information to its users.
When deployed properly, the training of warfighters and first responders in a virtual, simulated environment means that trainees can complete training at multiple locations simultaneously. Simulation is also safer and more cost effective. This does not mean that virtual reality training should replace live training exercises and the ideal solution can be found in the deployment of both virtual and live environment training. Therefore, the ILUS suit is being designed for use in both virtual and live environments.
The virtual reality training market for defense alone is expected to exceed $5 billion by 2026. Several companies and organizations are already interested in the ILUS suit for their specific applications. Plans are in place to conduct specific prototype testing with the interested parties towards the end of 2022. ILUS then plans to demonstrate the ILUS suit’s capability at the Intersec Exhibition in Dubai from 17-19 January 2023.
Regarding acquisitions, ILUS and its subsidiaries are in the final stages of due diligence for five acquisitions where Letters of Intent have been signed and the company hopes to close at least two of these acquisitions soon. Final stages of due diligence are underway for the acquisition of two wildfire equipment manufacturers, a US based fire protection installation company, and two defense technology manufacturers, one of which includes a drone division with existing product and revenues. In total, ILUS is currently at various stages of negotiation with thirteen potential acquisitions and is confident that it will achieve its 2022 and 2023 revenue goals.
ILUS Managing Director, John-Paul Backwell, commented: “Having recently had the opportunity to test what will become the ILUS suit, I was absolutely stunned by how immersive and realistic the technology is. I am pleased that we are working closely with the world’s leading haptic suit manufacturer which holds several technology patents and I believe we are ahead of the curve regarding what we are developing for the defense and firefighting sectors. On the acquisition front, we are moving forward as planned towards exciting announcements. Added to that, we now also have several much larger acquisitions in negotiation.”
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