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PADI Sold for $700 Million

Discussion in 'Scuba Industry News' started by emoreira, Nov 25, 2016.

  1. emoreira

    emoreira Dive Resort

    # of Dives: 200 - 499
    Location: ARGENTINA
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  2. kelemvor

    kelemvor Big Fleshy Monster ScubaBoard Supporter

    # of Dives: 100 - 199
    Location: Largo, FL USA
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    Providence Equity Sells Scuba Certifier PADI for $700 Million

    I can't post in "Scuba Industry News" so, into basic scuba discussion this goes.

     
  3. Amysterious Cat

    Amysterious Cat Angel Fish

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    Wow! that's surprisingly unexpected... I had to look it up and found this article.

    "...PADI – the Professional Association of Dive Instructors – might be, sources have announced the shock revelation that it has been bought by Richard Branson’s Virgin group.

    ...Branson has acquired the dive training agency to complement Virgin Galactic, the project which he hopes will bring space tourism to the world.

    ...it is expected that diver training programs will be restructured towards training that includes both sub-aqua and super-atmospheric concepts. The re-branded ‘Virgin Open Water Scubanaut’ program will provide basic training; the ‘Astronautical Open Water’ course will teach divers more advanced concepts such as ‘Peak Performance Weightlessness’, and the Navigation dive will be modified to include use of the stars along with the traditional compass." ---By W. T. Farquhar

    full article here:
    PADI SOLD TO VIRGIN SHOCK - DIVE Magazine

    I don't know if the article is true but it was published on divermagazine
    But I wonder what this all means for the future of PADI and certifications? :confused:?
     
  4. MelasLithos

    MelasLithos Nassau Grouper

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    Location: Shanghai, China
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    April's Fool? I can't find the publication date of this article, but the last sentence of it makes me think it was on April 1st 2017...

     
  5. diversteve

    diversteve disengaged ScubaBoard Supporter

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    Huh?

    The first linked article is to Bloomberg Financial News - November 15, 2016, 1:30 PM MST is right under the headline.

    The 2nd post is the Wall Street Journal article - March 23, 2017 discussing the agreement to purchase.

    Hardly an Aprils Fools joke...:rolleyes:
     
  6. RainPilot

    RainPilot completey delusional scientology material

    # of Dives: I'm a Fish!
    Location: UAE
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    Have a look again....
    PADI SOLD TO VIRGIN SHOCK - DIVE Magazine

    The last sentence is a giveaway, it is an April fool's joke but a good giggle nonetheless.
     
    Colliam7 likes this.
  7. Colliam7

    Colliam7 Tech Instructor Staff Member

    # of Dives: 1,000 - 2,499
    Location: Hillsborough, NC
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    Exactly! The article is well-written satire (e.g. '‘It’s very important,’ said our source, ‘that divers learn to appreciate the deleterious effects of passing wind inside their drysuit. Not only can doing so potentially affect the overall buoyancy characteristics of the suit by increasing the internal gas volume of the equipment, unzipping your drysuit in the changing rooms of a dive centre afterwards is no laughing matter.'), but it is a joke. Yes, it links two actual reports about the sale, but beyond that it is humor. Perhaps, the author should have used the name 'Orson Welles' instead of WT Farquhar.
     
  8. RainPilot

    RainPilot completey delusional scientology material

    # of Dives: I'm a Fish!
    Location: UAE
    2,396
    1,650
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    Ah man I totally missed the WTF author name.....
     
    RayfromTX likes this.
  9. Amysterious Cat

    Amysterious Cat Angel Fish

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    I thought the article did sound far fetched and no way to verify it
    And totally missed the April 1 2018 date :rofl3:
    But hats off to the writer it is well written!
     
  10. mdb

    mdb ScubaBoard Sponsor ScubaBoard Sponsor

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    PADI keeps getting sold and resold since that they have the best cash flow stream in the dive biss.

    April fools jokes aside-PADI is a cash machine for who ever is the current owner.
     

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