Here is some mergers & acquisitions news involving two of the companies that make theme park attractions.
Orlando-based Falcon's Beyond has acquired Oceaneering Entertainment Systems from Oceaneering International Inc. As its name implies, Oceaneering got started making submersible equipment for industries such as oil companies. Along the way, the company got into the business of adapting some of its technology for the amusement business.
That division became known as Oceaneering Entertainment Systems. It has created motion-base ride vehicles for some of the most popular attractions in the theme park business, including The Amazing Adventures of Spider-Man, Transformers: The Ride, and Justice League: Battle for Metropolis.
Falcon's Beyond began 25 years ago as Falcon's Treehouse, designing and creating attractions for clients including Busch Gardens. Over the past quarter century, that business has grown into Falcon's Beyond, an immersive storytelling company offering services and management in content, technology, and experiences. Clients include Qiddiya Investment Company, the company now known as United Parks, and IMG Worlds of Adventure.
"The powerful combination of Falcon's innovation with [Oceaneering Entertainment Systems]'s technical and engineering expertise is a game changer," Falcon's Beyond CEO and Co-Founder Cecil D. Magpuri said. "OES has been behind some of the best attractions and experiences in the world. Together, we're ushering in a new era for the global experience economy."
As part of the acquisition, Falcon's has purchased OES's portfolio of patents and engineering and manufacturing processes. It will provide support for all legacy OES products and has hired key members of the OES team. Falcon's also assumes the lease on a 106,000+ square-foot research and testing facility.
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This is a much bigger deal than it seems. It means Falcon's Beyond can now provide turnkey attractions instead of just being subbed as just doing sets and theming.