Falcon’s Beyond acquires Oceaneering Entertainment Systems

ORLANDO, Fla. - Falcon’s Beyond Global, Inc. (Nasdaq: FBYD), a company specializing in immersive storytelling and entertainment experiences, has completed the acquisition of Oceaneering Entertainment Systems (OES), a division of Oceaneering International Inc. (NYSE: OII). The deal, which was finalized today, includes OES’s patented technologies, engineering processes, and a 106,000-square-foot facility lease. Falcon’s Beyond has also hired key OES personnel and holds an option to acquire certain OES inventory by July 23, 2025. The company, currently valued at $587.5 million, has maintained profitability over the last twelve months according to InvestingPro data, with a notably efficient P/E ratio of 5.66.

OES, recognized for over 25 years of service to top theme park developers, has a legacy of creating award-winning rides and show systems. Its achievements include 12 Thea Awards for attractions at Universal Orlando Resort, Six Flags, and the Kennedy Space Center. Falcon’s Beyond and OES have a collaborative history spanning two decades. With revenue of $6.75 million in the last twelve months and operating with moderate debt levels, Falcon’s Beyond appears positioned for strategic growth. InvestingPro analysis reveals additional insights about the company’s financial health and growth potential, with over 10 exclusive ProTips available to subscribers.

Cecil D. Magpuri, CEO of Falcon’s Beyond, stated that the acquisition is a strategic move that significantly enhances the company’s growth in the global experience economy. Falcon’s Beyond aims to integrate OES’s technical expertise with its own innovative approach to revolutionize the experiential entertainment industry.

This acquisition is expected to be accretive to Falcon’s earnings and support its long-term growth objectives. Falcon’s Beyond will continue to support all legacy OES products, maintaining service continuity with the same personnel and technology.

Dave Mauck, President of Falcon’s Attractions and former VP and General Manager of OES, highlighted the value of the experienced team now part of Falcon’s Beyond, emphasizing their potential to transform the entertainment industry with a unique blend of creative, technical, and operational excellence.

Falcon’s Beyond, headquartered in Orlando, operates at the convergence of content, technology, and experiences, leveraging intellectual property across physical and digital platforms. The company’s three core business units focus on creating attractions and experiences, developing entertainment destinations, and bringing brands to life across various media.

The information in this article is based on a press release statement. Investors seeking deeper insights into Falcon’s Beyond’s valuation and growth metrics can access comprehensive analysis through InvestingPro, including exclusive financial health scores and detailed performance indicators.

In other recent news, Falcon’s Beyond Global, Inc. announced the resignation of board member William Douglas Jacob, effective at the close of business. The company clarified that Jacob’s departure was not due to any disagreements over operations, policies, or practices. Additionally, Falcon’s Beyond Global has amended its loan agreements to extend maturity dates, involving two separate agreements with major shareholder Katmandu Ventures, LLC, and FAST Sponsor II LLC. The changes remove the repayment schedule and extend the maturity date to the earlier of five days following a distribution of funds from an asset sale or May 16, 2025. These amendments aim to provide Falcon’s Beyond Global with additional time to manage its financial obligations. The details of these amendments were disclosed in a Form 8-K filed with the Securities and Exchange Commission. The company’s stock and associated warrants are listed on The Nasdaq Stock Market LLC.

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