Versant has announced a significant acquisition on May 13, 2024, acquiring Full Swing, a leading sports technology company, for $530 million in cash. The deal marks Versant's largest acquisition to date and is expected to enhance its golf business, which includes properties like Golf Channel, GolfPass, and GolfNow.
Details of the Full Swing Acquisition
Full Swing is renowned for its advanced golf simulators and analytics software, also extending its technology to sports like baseball. The acquisition is set to strengthen Versant's Golf vertical, which CEO Mark Lazarus emphasizes as a key model for future growth across the company.
Versant is acquiring Full Swing from Bruin Capital and a group of minority investors. The transaction is subject to customary purchase price adjustments, which are typical in large acquisitions.
Strategic Importance of the Golf Vertical
Versant’s golf business is nearly split between 50% pay TV and 50% other revenue, representing a balanced revenue model that Lazarus aims to replicate across other business lines. In a previous statement on the Mixed Signals podcast, he noted, “Our golf business is nearly 50% pay TV and 50% other revenue and profit.”
