Internationally acclaimed event service provider Special Effects has acquired ownership in the Dubai-based Kraftwerk Design & Production agency, expanding its market presence in Europe, the United States and Asia to the Arabic markets.
A number of successful acquisitions have contributed to the growth of Special Effects. Through this partnership, in addition to penetrating a new market, the company will also transform its graphic and event design services into an independent line of business, according to a press release sent to the Budapest Business Journal.
"This acquisition is part of our business development strategy to increase our international presence," explains Zsolt Kassai, CEO of Special Effects Ltd. "Special Effects is globally renowned for its bespoke, high-quality services. From now on, our local production capacities will enable us to provide full-scale technical, installation and design services both in the UAE and other GCC countries."
Building on the creativity of European professionals, Kraftwerk Design & Production is a specialist in designing full visual concepts. Since its foundation in 2015, the agency has designed and constructed stages and installations, created interactive solutions and developed audiovisual content for numerous multinational companies. From the alliance with Special Effects, Kraftwerk expects to broaden its range of services and to increase market share.
The two companies had collaborated on a series of projects before joining forces. This allowed both parties to explore their shared values and to find synergies to build a lucrative business partnership.
"As a result of the acquisition, we are establishing a new creative design division to deliver an even wider variety of solutions to our existing and new clients," adds Kassai.
Kraftwerk management and operations will not change, while both companies plan to grow their teams in sales and creative design.