Versant to acquire golf simulator company Full Swing for 0 million
Versant Media Group, known for its ownership of prominent cable networks such as CNBC and the Golf Channel, has announced its intention to acquire Full Swing, a leading golf simulation company, from Bruin Capital for approximately 0 million in cash. This strategic acquisition is indicative of Versant’s broader strategy to diversify and expand its media portfolio, a goal articulated by CEO Mark Lazarus since the company’s public debut in January, following its spinout from Comcast.
This latest deal underscores Versant’s commitment to investing in innovative platforms that complement its existing range of services. Earlier in the year, the company expanded its digital capabilities by acquiring StockStory, an artificial intelligence-driven platform designed to provide financial insights and stock recommendations to users. These moves are part of an ongoing effort to strengthen Versant’s presence beyond traditional media, positioning it in sectors that appeal to versatile and engaged audiences.
Full Swing’s integration into Versant’s business model will enhance its golf operations, which already include GolfPass, a digital media platform, and GolfNow, a service providing tee-time reservations. The acquisition not only allows Versant to reach a larger audience of golf enthusiasts but also adds a technology-driven approach to its existing offerings, thereby fostering a more interactive experience for users.
In its recent financial disclosures, Versant reported a 9.5% increase in revenue for its platforms business, which encompasses entities like GolfNow and Fandango. This robust growth reflects a strategic pivot towards digital and subscription-based revenue streams, with the goal of transforming the company’s income makeup so that 50% is derived from these areas in the near future.
The technology developed by Full Swing, which specializes in golf and baseball simulators for athletes and training facilities, is expected to enhance Versant’s capabilities significantly. Full Swing’s CEO, Ryan Dotters, expressed enthusiasm about the acquisition, stating that joining Versant will bolster the company’s ability to distribute its technology more widely to golfers and sports enthusiasts. Dotters will continue to lead the Full Swing division under the guidance of Will McIntosh, president of digital platforms and ventures.
The transaction is slated to conclude before the end of the calendar year, marking a pivotal moment in Versant’s strategic developments and emphasizing its dedication to innovation in the sports media landscape.
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