Home / Business and Economy / Versant Buys Full Swing for $530M, Bolsters Sports Tech
Versant Buys Full Swing for $530M, Bolsters Sports Tech
16 Jul
Summary
- Versant Media Group acquired Full Swing for $530 million cash.
- The deal integrates Full Swing's golf simulation technology into Versant's media offerings.
- Tiger Woods' early investment and partnership significantly boosted Full Swing's value.
Versant Media Group announced last month its agreement to acquire sports technology company Full Swing from Bruin Capital for approximately $530 million in cash. This acquisition is set to enhance Versant's presence within the sports entertainment sector by integrating Full Swing's cutting-edge simulation software, launch monitors, and performance data into Versant's digital media and television offerings.
The strategic move by Versant, which owns prominent golf properties like Golf Channel, GolfNow, and GolfPass, aligns with CEO Mark Lazarus's vision for revenue diversification amidst declining cable TV subscriptions. The company's golf segment currently sees an even split between television and digital media revenue.
Tiger Woods' influential role as an early investor and partner in Full Swing since 2015 significantly contributed to the company's value and product development, particularly with the KIT Launch Monitor. His involvement highlights the growing commercial impact of athletes in the sports technology industry.
This acquisition also underscores the significance of Black representation in the expanding sports technology landscape. High-profile investments like Woods' offer a commercial model for underrepresented communities seeking opportunities in sports data, hardware, and digital platforms, fostering broader market appeal and innovation.
