Golf Technology Deal Expands Versant’s Portfolio
Versant Media Group has agreed to acquire Full Swing, a golf simulation company, from private equity firm Bruin Capital for approximately $530 million in cash. The transaction adds another sports-focused platform to Versant’s growing mix of media, digital and technology assets.
Owner of CNBC and Golf Channel
Versant owns several cable networks, including CNBC, MS NOW and the Golf Channel. The company began trading publicly in January after being spun out from Comcast, and CEO Mark Lazarus has since emphasized a strategy built around expanding beyond traditional media.
A Strategy Beyond Cable Networks
The Full Swing acquisition follows the approach Lazarus has outlined to investors: investing in businesses that extend Versant’s existing brands into adjacent markets. Earlier this year, the company bought StockStory, an AI-powered technology platform that provides financial analysis, market insights and stock recommendations for CNBC.
Golf Business Already Includes Digital Platforms
Versant’s golf operations already include GolfPass, a digital media platform, and GolfNow, a tee-time reservation company. Full Swing adds a hardware and technology component to that ecosystem, connecting the company more directly with golfers, athletes and training facilities.
Platforms Revenue Shows Growth
In May, Versant reported that revenue from its platforms business rose 9.5% to $192 million. That segment includes GolfNow, Fandango and recently launched direct-to-consumer units. The company has also pointed to growth in its news and sports divisions.
Digital Revenue Becomes a Bigger Priority
Versant executives have said they want to rebalance the company’s revenue mix over time. The goal is for 50% of revenue to eventually come from digital, platform, subscription, ad-supported and transactional businesses.
Lazarus Frames Full Swing as Strategic Fit
Mark Lazarus said: “Full Swing is exactly the kind of strategic platform that reflects how we are building Versant: investing in our core markets, extending the reach of our iconic brands and creating new ways to serve passionate audiences.”
What Full Swing Does
Full Swing develops and sells golf and baseball simulators for consumers, sporting goods stores and athletic training facilities. Its technology is used by both recreational players and professional athletes. Bruin Capital acquired Full Swing in 2021 for $160 million.
Full Swing CEO to Remain With Versant
Full Swing CEO Ryan Dotters said: “Joining Versant gives us the scale and distribution to bring our technology to even more golfers, athletes and fans.” Dotters will remain with the company and report to Will McIntosh, Versant’s president of digital platforms and ventures.
Deal Expected to Close This Year
The companies said the transaction is expected to close before Dec. 31. Once completed, the acquisition will further strengthen Versant’s push into sports technology, digital platforms and audience-driven businesses tied to its existing media brands.
