Versant has agreed to acquire golf simulator company Full Swing for approximately $530 million in cash:
- Full Swing adds to Versant's golf assets, which already include Golf Channel, GolfNow, and GolfPass:
- Full Swing has developed hardware and software used by general consumers, competitive athletes, coaches, and commercial venues:
Versant Media Group, the owner of cable networks including CNBC, MS NOW, and the Golf Channel, has agreed to acquire Full Swing from private equity firm Bruin Capital:
The deal follows a template CEO Mark Lazarus has outlined to investors since Versant began trading as a public company:
Versant has been investing in nontraditional media businesses that broaden the scope of the brands it already owns:
Full Swing develops and sells golf and baseball simulators for consumers, sporting goods stores, and athletic training facilities:
Full Swing CEO Ryan Dotters will stay at Versant and will report to Will McIntosh:
The transaction should close before December 31:
