Falcon's Beyond Global (FBYD) said Thursday it acquired Oceaneering Entertainment Systems, a division of Oceaneering International (OII).
The transaction includes a portfolio of patented technologies, proprietary engineering and manufacturing processes, according to Falcon's.
The company also assumed the lease of a more than 106,000-square-foot facility to support research, development, testing, and integration services. Falcon's holds an option to acquire certain OES inventory on or before July 23, 2025.
Financial terms of the transaction were not disclosed.
Falcon's and Oceaneering's shares were up 4.3% and 3.1%, respectively, in recent after-hours activity.
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