Events “experience” organiser PSAV, which cancelled IPO plans in 2016, completed its sale to Blackstone, this week, for a price believed to be some $400m. PSAV is an Illinois-based, company with a strong presence in the US, Mexico, Caribbean, Europe and the Middle East. It says: “audiovisual support is no longer simply a microphone and a flipchart. It now includes computer interfaces, high-definition imaging, rigging, power distribution, component video, special effects, concert sound and lighting, internet connectivity, virtual meetings plus all the traditional basic equipment.” The PSAV offerings were neatly summarised by Skift as: “Microphones audience members toss to each other like a ball. Colourful LED wristbands that light up for attendee surveys. Interactive video walls that help conference-goers choose which session or workshop they most want to attend.” The 81-year-old PSAV is believed to have revenues of some $1.5bn. But event production is manpower and resource-intensive so the company has not always been profitable. Blackstone’s interests in events includes Clarion, the expansive UK-US exhibitions group.
Uncategorised
Blackstone acquires events tech group
