Special Effects acquires stake in Spanish event production firm
After the recent expansion of its domestic portfolio, Special Effects strengthens its international presence by joining forces with a Spanish AV firm, VA361 Productions, with locations in Madrid, Barcelona and Marbella, according to a press release sent to the Budapest Business Journal.
The collaboration between the two companies started nine years ago, after they both joined the AV Alliance network and delivered many international events in collaboration across Europe.
“In addition to conscious expansions and an internationally active attitude, the similar leadership thought process will certainly help to develop necessary synergies and to adapt our international strategies to the latest market trends after the long-awaited re-launch of our industry," said Zsolt Kassai, CEO of Special Effects.
“Besides building synergistic solutions to streamline resources, this cooperation brings a special benefit to us: the remarkable business and management approach of Special Effects that we have experienced during our past collaborations can now be applied to grow and improve both companies," added Francisco Gomez, managing director of VA361.
Complementing knowledge and resource sharing, the companies plan to establish a joint research & development branch, a creative and design team, as well as education for technicians and engineers.
“Our current partner firms and subsidiaries will have a major role in this process. In order to successfully synergize strategic and operative procedures, we find it critical to set up an inter-corporate management team, too," highlighted Kassai.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.