Viad Corp. (VVI) has closed the acquisition of Blitz Communications Group Limited and its affiliates ("Blitz"), thereby expanding its Marketing and Events group consisting of Global Experience Specialists (GES).
U.K.-based Blitz Communications is one of the major audio visual (AV) services providers for the live events industry across the U.K. and Europe. With an experience of 25 years in the live events market, the company specializes in delivering a variety of audio visual services including digital media, lighting, theatre, set and stage, graphics, audio and video.
This acquisition will help Viad’s GES to widen its range of services and enable it to become a full-service supplier to the live events exhibitions and conference, among others. In late 2013, Viad had formed an in-house U.S. AV team that has organized a number of events, resulting in growth of the sales pipeline.
The inclusion of Blitz to its portfolio will also help Viad strengthen its presence, enabling it to acquire a leading position in the UK AV market with further penetration in Europe and the Middle East going forward. With this acquisition, Viad expects strong growth in the AV market with attractive margins, which would benefit the company. Notably, the acquisition is not likely to impact 2014 earnings in any way.
Viad has been consistently enhancing its business groups, Marketing & Events Group and Travel & Recreation Group. In Jul 2014, the business service provider expanded its Travel & Recreation Group with the acquisition of West Glacier Motel & Cabins and Apgar Village Lodge.
With respect to earnings performance, this business services provider has delivered positive surprises in three of the last four quarters with an average beat of 4.7%.
Currently, Viad carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry that are worth reckoning include Avis Budget Group, Inc. (CAR), Cardtronics Inc. (CATM) and Core-Mark Holding Company, Inc. (CORE). While Avis Budget Group sports a Zacks Rank #1 (Strong Buy), Cardtronics and Core-Mark Holding Company have a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment