Infinite Acquisitions Partners LLC has announced a nonbinding letter of intent to acquire Oceaneering Entertainment Systems (OES) from Oceaneering International, Inc. (OII) through an acquisition of assets. Additionally, Falcon’s Beyond Global, Inc. (NASDAQ: FBYD), a major stockholder of Infinite, has entered into a nonbinding letter of intent to operate OES. OES, known for its advanced ride and show systems, has been an industry leader for over 25 years and has collaborated with Falcon’s Beyond on themed entertainment projects globally for more than two decades.
Falcon’s Beyond is expected to employ key OES staff to operate OES, leveraging their expertise in experiential themed entertainment and technology to further amplify the OES brand. If the transactions proceed, Falcon’s Beyond would be responsible for the development and support of trackless ride vehicles, flying theaters, and beyond. OII's Vice President and General Manager, Dave Mauck, stated that existing OES customers would remain customers of OES, with Falcon’s Beyond servicing the contracts and providing the same high quality and level of service that has built OES’s stellar reputation.
Lucas Demerau, President of Infinite Acquisitions Partners, expressed excitement about the opportunity to own and grow OES, citing Falcon’s expertise in themed entertainment and technology as a great fit to operate and further amplify the OES brand. Cecil D. Magpuri, CEO of Falcon’s Beyond, also expressed enthusiasm about the opportunity to operate OES and build upon its legacy of innovation powered by world-class employees, further bolstering Falcon’s Beyond’s platform as a world-class entertainment provider.
The transactions involving Infinite, OII, OES, and Falcon’s Beyond are subject to ongoing discussions, due diligence, and the execution of binding agreements. There is no assurance that binding agreements for the transactions will be executed.
Falcon’s Beyond, headquartered in Orlando, Florida, is a visionary innovator in immersive storytelling, sitting at the intersection of content, technology, and experiences. The company's three core business units include Falcon’s Creative Group, Falcon’s Beyond Destinations, and Falcon’s Beyond Brands, which collectively work on creating master plans, designing attractions, developing entertainment experiences, and bringing brands and intellectual property to life through various mediums.
While the press release did not provide specific financial metrics, it did highlight the strategic partnership between Infinite Acquisitions Partners LLC, Oceaneering International, Inc., and Falcon’s Beyond Global, Inc., setting the stage for potential growth and innovation in the themed entertainment industry. The market has reacted to these announcements by moving the company's shares 1.0% to a price of $8.9. If you want to know more, read the company's complete 8-K report here.
