Versant Media Group, owner of CNBC, MS Now, and the Golf Channel, has today announced it has agreed to purchase golf simulation company Full Swing from private equity firm Bruin Capital for approximately $530 million in cash.
Full Swing will add an interactive sports platform to Versant’s portfolio, spanning immersive simulation, launch monitors, virtual greens, integrated software, and performance data.
Mark Lazarus, Chief Executive Officer of Versant, told investors: “Full Swing is exactly the kind of strategic platform that reflects how we are building Versant: investing in our core markets, extending the reach of our iconic brands and creating new ways to serve passionate audiences. Sports are becoming more interactive, more data-driven and more connected, and Full Swing allows us to build on that momentum. Starting from our strength in golf, we see an opportunity to scale a multi-sports technology platform for athletes, coaches, consumers, and fans.”
Will McIntosh, President, Digital Platforms and Ventures at Versant, commented: “Full Swing will add a powerful performance layer to Versant, bringing interactive products, precise data and immersive software to players wherever they engage, including at home, on the range, in venues or with coaches. We have long admired what Ryan and his leadership team have built at Full Swing and look forward to welcoming them to the Versant family as we work together to extend the platform’s reach and impact across training, competition and entertainment.”
“This is an exciting next chapter for Full Swing. Joining Versant gives us the scale and distribution to bring our technology to even more golfers, athletes and fans, while staying focused on what we do best — building the most connected and immersive way to play and train,” said Ryan Dotters, Chief Executive Officer of Full Swing. “We’re proud of what our team has built, and we look forward to growing it alongside Versant’s portfolio of iconic brands.”
“Joining Versant’s portfolio and resources, under Mark’s vision for the future of sports and fan experiences, is exactly the kind of next chapter we set out for when we acquired Full Swing five years ago,” said George Pyne, Bruin Capital’s Founder & Chief Executive Officer. “Its data and technology are a perfect fit for the interactive, athlete-to-fan ecosystem Versant is building. This is truly a win for everyone, and we’re thrilled for Ryan and the team.”
In May, Versant announced that its platforms business revenue, including GolfNow, Fandango, and recent direct-to-consumer units, increased by 9.5% to $192 million.
The transaction should close before Dec. 31.
By CEO NA Editorial Staff
