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Versant to buy golf simulator company Full Swing for $530 million
CNBC • • business
Key Points:
- Versant Media Group, owner of CNBC, MS Now, and Golf Channel, is acquiring golf simulation company Full Swing from Bruin Capital for approximately $530 million in cash.
- This acquisition aligns with Versant CEO Mark Lazarus's strategy to expand into non-traditional media businesses that complement its existing brands, following its spinout from Comcast earlier this year.
- Versant's golf division already includes GolfPass and GolfNow, and the company aims to grow its digital, platform, subscription, ad-supported, and transactional revenue streams to 50% of total revenue.
- Full Swing produces golf and baseball simulators used by both recreational and professional athletes, and CEO Ryan Dotters will remain with Versant, reporting to Will McIntosh.
- The deal is expected to close before December 31 and will help Versant extend its reach in sports technology and digital platforms.
