Foresight Sports provides performance analysis solutions for the golf industry, including launch monitors and golf simulation solutions.
Earlier this month, Vista Outdoor’s Bushnell Golf brand signed an exclusive domestic partnership with Foresight Sports.
Foresight Sports and Bushnell Golf aim to complement each other in attracting new customers, expanding into new segments and driving brand awareness and growth.
Vista Outdoor CEO Chris Metz said: “It is a pleasure to welcome the team from Foresight Sports to the Vista Outdoor family.
“Their hard work and pioneering innovation have permanently changed the golf tech landscape, and when combined with the strength of our Bushnell Golf brand, elevates Vista Outdoor to a market leader in this exciting category.
“Our portfolio now includes market-leading solutions in hardware development, golf data collection, game improvement, gamification and golf accuracy.
“The acquisition also further bolsters our reputation as the acquirer of choice in the outdoor industry.”
The deal is subject to certain customary closing adjustments and does not include contingent incentives of up to $25m, which will be paid if Foresight Sports meets certain net sales targets.
Foresight Sports is expected to generate around $100m in full-year net sales and $50m in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA).
PricewaterhouseCoopers Corporate Finance served as financial advisor to Foresight Sports for the deal, while Gunderson Dettmer acted as the company’s legal advisor.
Reed Smith acted as Vista Outdoor’s legal advisor for the transaction.
Vista Outdoor designs, manufactures and markets outdoor recreation and shooting sports products through two reportable segments, Shooting Sports and Outdoor Sports.
Brands owned by the company include Remington Ammunition, Bushnell, CamelBak, Bushnell Golf, Bell Helmets, Camp Chef, Foresight Sports, Giro, QuietKat and Federal.