Callaway and Topgolf Entertainment Group
Callaway and Topgolf Entertainment Group announced today that the companies have entered into a definitive merger agreement. Under the terms of the agreement, Callaway and Topgolf will combine in a stock transaction that will create a world leader in golf and entertainment. The number of shares to be issued is based on Topgolf’s implied equity value of approximately $ 2 billion including the 14% that Callaway already owns. Topgolf is the leading technology-enabled golf entertainment company, with an innovative platform comprising its groundbreaking outdoor venues, revolutionary Toptracer technology, and an innovative media platform with a differentiated position in esports. Topgolf generated approximately $ 1 billion in revenue in 2019 and has grown at a compound annual rate of 30% since 2017. Callaway is a global market leader in golf equipment with a position of scale in active lifestyle soft products and a proven ability to deliver strong returns, including company growth that has outpaced the growth of the golf market for seven consecutive years.
Toptracer, the leading ball-tracking technology best known for transforming televised golf, is now being brought directly into everyday golf. By bringing professional tracking technology to mobile devices and driving ranges, Topgolf is enhancing the golf experience. The technology has been deployed in more than seven thousand five hundred internships in three years (representing approximately one percent penetration of the total addressable market).
PGA Catalunya Resort
This business unit, which in Spain Toptracer is present in PGA Catalunya Resort, Lumine Beach & Golf Community, National Golf Center, Golf La Roca, Real Club de Golf Guadalmina, Real Club de Golf de San Sebastian Basozábal, Golf Negralejo, Olivar de la Hinojosa, Ranillas Urban Club, Magna Marbella, The San Roque Club and soon at Golf Sant Cugat, has achieved a 233% revenue growth in the last three years.
Thanks to World Golf Tour, a leading mobile golf game with twenty-eight million members in 2019, Topgolf has built a strong digital presence in the game of golf. The company’s proprietary in-house gaming capabilities also create innovative sponsorship and consumer engagement opportunities across Topgolf’s community of players who compete on the company’s interconnected in-person and digital platforms.
“Since its inception, Topgolf has created an innovative, technology-inspired twist on the driving range experience, turning it into a global sports and more entertainment. Our history of creativity and diversity will only be strengthened as part of Callaway, a world leader in the industry, ”said Erik Anderson, CEO of Topgolf. “We are all eager to create new experiences, reach new audiences and solidify our digital infrastructure as we connect communities around the world.”
