San Diego Business Journal

S.D.-Based FlyDive Continues to Soak Up the Competition

By Sarah de Crescenzo Sunday, March 12, 2017
   

San Diego-based FlyDive has acquired Aquafly, an Austin, Texas-based company that rents and sells jetboards and jetpacks, trains athletes and produces water acrobatic shows.

The companies are part of the growing hydroflight industry, which provides equipment that temporarily propels thrill-seekers out of and above a body of water.

Terms of the deal were not disclosed.

"This acquisition of Aquafly raises FlyDive's capabilities tremendously,” said Christos Nicolaidis, CEO of FlyDive, in a statement.

As part of the acquisition, Aquafly founders Bobby and Gretchen Vance become FlyDive’s new vice president of sales and vice president of corporate events and sponsorships, respectively.

It’s the second acquisition FlyDive has announced so far this year. In January, the company said it had acquired Jetpack America, another hydroflight company, for an undisclosed sum.