IAAPA Expo: Falcon’s might operate Oceaneering Entertainment
Orlando-based Falcon’s Beyond Global, an attractions master planner and producer, has positioned itself to operate Oceaneering Entertainment Systems, an Orlando-based designer of ride systems.
Letters of intent with the companies and a major Falcon’s investor were announced Tuesday.
“We’re so thrilled to fuse the amazing OES engineering legacy and competency with our extensive themed entertainment place making the capabilities and technologies at Falcon’s,” said Cecil D. Magpuri, Falcon’s CEO, during a news conference at IAAPA Expo. The company used a talk-show format for the announcement and other updates from the exhibit floor at Orange County Convention Center.
Falcon’s is a worldwide attractions planner, ride inventor and producer of animation, movies and gaming. Oceaneering Entertainment, referred to as OES, is currently part of Houston-based Oceaneering International, a provider of engineered products and services.
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OES develops ride and show systems. Falcon’s and OES have both been in business for 25 years and have been collaborators for more than 20 years on individual attractions and technology.
Infinite Acquisitions Partners LLC, a major stockholder of Falcon’s Beyond, has entered a nonbinding letter of intent with Falcon’s to operate OES pending approval in early 2025.
“If the transactions proceed, Infinite, as the owner of OES, would tap Falcon’s Beyond’s expertise to operate OES, including its development and support of trackless ride vehicles, flying theaters and beyond,” a news release said. The transactions are subject to ongoing discussions. Potential financial terms were not announced.
Falcon’s has been in growth mode, expanding its total employee count to 200, doubling that figure since last year’s IAAPA Expo, Magpuri said. It recently announced the addition of an advisory board and its first strategic advisor, Mike Hightower, former president of Universal Creative, the design division of Universal Destinations & Experiences.