Revelyst Announces Acquisition of PinSeeker, a Leading Skill-Based Golf Simulator Competition Platform
25 März 2024 - 12:00PM
Business Wire
- PinSeeker enables players to compete globally in real-time,
virtual, closest-to-the-pin tournaments
- The brand will be integrated into Foresight Sports, the leading
maker of golf launch monitors and simulators, in Revelyst’s
Precision Sports Technology platform
- The acquisition allows Foresight Sports to capitalize on strong
market demand for skill-based gaming and will fast-track the
evolution of Foresight’s digital game and content platform
Revelyst, a collective of world-class maker brands that design
and manufacture performance gear and precision technologies and a
segment of Vista Outdoor Inc. (NYSE: VSTO), today announced it has
acquired PinSeeker, a Wasserman portfolio company and the leading
simulator off-course golf and connectivity app that hosts
real-time, virtual, closest-to-the-pin tournaments.
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the full release here:
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The PinSeeker app enables golfers to compete in contests and
challenges with their friends, families and fellow golfers,
wherever they are located. The app hosts virtual tournaments,
closest-to-the-pin challenges and other contests where participants
can play for free or compete for real money, experiencing the
thrill of competitive golf with anyone, anywhere. The acquisition
allows Foresight Sports to capitalize on strong market demand for
competitive tournaments and experiences in off-course golf and will
fast-track the evolution of Foresight Sports' game and content
platform.
PinSeeker will be integrated into Foresight Sports, the leading
maker of golf launch monitors and simulators, in Revelyst’s
Precision Sports Technology platform. PinSeeker employees will
relocate to San Diego where Revelyst’s Precision Sports Technology
platform is based.
“Adding PinSeeker’s one-of-a-kind app to Foresight Sports’
category-leading launch monitors and simulators will help us
deliver an unmatched user experience for off-course golfers,” said
Eric Nyman, CEO of Revelyst. “Our two Precision Sports Technology
platform brands — Foresight Sports and Bushnell Golf — are
best-in-class golf brands. The addition of PinSeeker and its team
builds our standing in the industry, expands our software offering
and provides the resources and know-how to extend our reach in this
rapidly growing skill-based gaming category. It reflects Revelyst’s
goal of engaging with consumers in more modern and tech-forward
ways, both outdoors and virtually.”
Unlike traditional on-course golf, PinSeeker hosts tournaments
on golf simulators, giving players instant access to thousands of
events and allowing them to compete against golfers worldwide. The
app allows players to compete in real-time, view their rankings and
competitors, and enjoy even more use from their Falcon or QuadMAX
products from Foresight Sports, or other simulator devices.
The acquisition enables Revelyst and Foresight Sports to
capitalize on the increasing number of golfers — off-course
participation grew 18 percent to 33 million participants in 2023 —
and build a world-class game and entertainment experience for
golfers who use Foresight Sports simulators. PinSeeker’s revenue
models, including tournament and sponsorship income, will allow
Revelyst to reinvest in its brands and grow the company’s gaming
ecosystem.
“PinSeeker reinforces that Foresight Sports is the undisputed
leader in golf technology,” said Jon Watters, Co-President and
General Manager of Revelyst’s Precision Sports Technology
platform.
“The addition of PinSeeker means our digital ecosystem is poised
to reach another level,” said Scott Werbelow, Co-President and
General Manager of Revelyst’s Precision Sports Technology platform.
“By marrying PinSeeker’s software with Foresight Sports’ hardware
and FSX Play ecosystem, we will revolutionize off-course golf.”
“The PinSeeker team is thrilled to begin our next chapter as
part of Revelyst’s collective of world-class maker brands,” said
Rob Guilfoyle, PinSeeker CEO. “By joining the Foresight Sports
team, we can bring our app to a new base of users and continue to
grow the sport of off-course golf through skills-based wagering and
new gaming opportunities.”
Reed Smith LLP served as legal adviser to Vista Outdoor in
connection with the transaction.
About PinSeeker
PinSeeker is a leading virtual network of golfers, allowing
players to compete globally in real-time. Golfers compete in
closest-to-the-pin challenges through golf simulators and connect
with other players through our proprietary app that lets them view
their rankings and competitors in real-time.
About Revelyst
Revelyst, a segment of Vista Outdoor Inc. (NYSE: VSTO), is a
collective of world-class maker brands that design and manufacture
performance gear and precision technologies. Our category-defining
brands leverage meticulous craftsmanship and cross-collaboration to
pursue new innovations that redefine what is humanly possible in
the outdoors. Portfolio brands include Foresight Sports, Bushnell
Golf, Fox, Bell, Giro, CamelBak, Bushnell, Simms Fishing and more.
For more information, visit our website at www.revelyst.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240325730625/en/
Investor Contact: Tyler Lindwall Phone: 612-704-0147
Email: investor.relations@vistaoutdoor.com
Revelyst Media Contact: Eric Smith Phone: 720-772-0877
Email: eric.smith@revelyst.com
Foresight Sports Media Contact: Ethan Ganot Email:
EGanot@Foresightsports.com
PinSeeker Media Contact: Rob Guilfoyle Email:
rob@pinseekergame.com
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