Inventory Locator Service / Internet Business Applications

Inventory Locator Service, LLC (ILS) today announced that it has acquired the assets of Internet Business Applications, Inc. (IBA), including the intellectual property of its inventory management software, Aerospace Repairable Management System (ARMS). ARMS provides tracking of the maintenance, repair and overhaul process and inventory management for aviation and defense industry distributors, suppliers and manufacturers. In addition, ILS will retain the services of IBA employees.

ILS offers the world's largest and most active e-marketplace for the aviation and defense industries. It also provides online tools such as electronic catalogs, auctions, and web hosting services for its customers. It was recently given its sixth consecutive "Best of Web" award by Forbes Magazine.

(c) PRNewswire