Pursuit sells Flyover business for $78.4 million

Pursuit Attractions and Hospitality Inc. (NYSE: PRSU) announced it has entered into a definitive agreement to sell its Flyover flying theater attractions business to Brogent Technologies Inc. for approximately $78.4 million, subject to customary purchase price adjustments.

The transaction represents a multiple of approximately 15 times Flyover's estimated 2025 Adjusted EBITDA contribution. The deal is expected to close this spring, pending regulatory approvals and customary closing conditions.

Flyover operates four locations in Vancouver, Iceland, Las Vegas, and Chicago, welcoming 1.4 million visitors during 2025. The business provides multi-sensory flying theater experiences with motion seating, media, and special effects.

Brogent Technologies is a publicly listed immersive technology company that has delivered over 100 media-based attraction solutions across more than 20 countries.

Pursuit also announced it received $25.0 million in deferred proceeds from the prior sale of its GES business on December 30, 2025, completing the $535 million transaction. The company repurchased $14.5 million of common stock between November 10, 2025 and January 20, 2026, at an average price of $33.47 per share.

"These actions reflect our commitment to disciplined capital allocation and creating long-term shareholder value," said David Barry, president and chief executive officer of Pursuit.

The combined proceeds from the Flyover sale and GES deferred payment will increase liquidity by over $100 million. Pursuit has approximately $35.5 million remaining available for future share repurchases under its $50 million authorization.

Pursuit operates attractions and hospitality experiences in iconic destinations across the United States, Canada, Iceland, and Costa Rica.

You May Also Be Interested In

• Qualcomm to acquire AI software firm Modular Inc.
• Lockheed Martin unveils next-generation hypersonic glide body
• Phio Pharmaceuticals begins commercial-scale production of PH-762