International. QSC has reached a definitive agreement to be acquired by Acuity Brands, which will pay US$1.25 billion for the AV solutions manufacturer, representing 14 times QSC's estimated EBITDA.
"QSC's partnership with Acuity underscores the critical role AV technology plays in live, hybrid and virtual experiences," said Joe Pham, QSC President and CEO. "Our two organizations are aligned on a long-term mission and core values that drive our mutual passion for innovation, customer satisfaction and employee well-being."
QSC will become part of Acuity's Smart Spaces Group to execute on the joint vision of making spaces smarter, safer and greener with disruptive technologies that leverage data interoperability.
"From our roots in pro audio to our Q-SYS platform solutions, our talented teams are well-positioned to bring our mission to life for our customers, ecosystem partners, and our system integrators who serve them," said Jatan Shah, President of QSC. "With Acuity's Smart Spaces Group, our rich data landscape will deliver dynamic and engaging experiences that will captivate and inspire."
Acuity Brands is a company that uses technology to solve problems in spaces, lighting and more to come. Through its two business segments, Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG), we design, manufacture and bring to market products and services that make a difference in people's lives.
Morgan Stanley & Co. LLC is serving as financial advisor to QSC and Proskauer Rose LLP is providing outside legal advice.
