Acuity Buys QSC and Q-SYS for $1.2 Billion
QSC, LLC reached a definitive agreement to be acquired by Acuity Brands, Inc (“Acuity”).
QSC will become part of Acuity’s Intelligent Spaces Group to execute our joint vision of making spaces smarter, safer and greener with disruptive technologies that leverage data interoperability.
“Bringing QSC together with Acuity underscores the critical role AV technology plays in live, hybrid, and virtual experiences,” said Joe Pham, chairman and Chief Executive officer of QSC. “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.”
Acuity Brands acquired QSC for a purchase price of $1.215 billion, or $1.1 billion net of approximately $100 million in present value of expected tax benefits. (The net purchase price represents approximately 14 times QSC’s estimated EBITDA for the last twelve months ending Aug. 31, 2024. It is expected to be accretive to Acuity’s’ fiscal 2025 full-year adjusted diluted earnings per share.)
“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 Intelligent Spaces Group, our rich landscape of data will deliver dynamic and engaging experiences that captivate and inspire.”
QSC delivered sales of approximately $535 million for the twelve months ending Aug. 31, 2024.