WORLD LEADER IN GOLF IMPROVEMENT, GOLFTEC, ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE SKYTRAK, #1 CONSUMER LAUNCH MONITOR

DENVER, Aug. 10, 2022 /PRNewswire/ -- GOLFTEC, the world leader in golf improvement, announced today that it has entered into a definitive agreement to acquire SkyTrak, golf's #1 consumer launch monitor and simulator.

The impending acquisition builds on each company's powerful reputation and shared mission to provide golfers with the data and insights needed to track performance, have more fun and play better golf. As part of the acquisition, GOLFTEC will invest in enhancing the current SkyTrak user experience as well as create new, innovative solutions that leverage coaching, data, and digital platforms to deliver a GOLFTEC improvement experience to a broader segment of golfers around the world.

"We are incredibly excited about the acquisition of SkyTrak. With this acquisition, we're combining two companies that understand how data and personalized coaching can truly accelerate a person's journey to better golf. As we look to the future, and in conjunction with our parent company GDO, we're excited about delivering an improvement experience that goes beyond the traditional GOLFTEC Training Bay and helps people improve with GOLFTEC anywhere," said Joe Assell, GOLFTEC Co-founder and CEO.

In support of this acquisition, GOLFTEC recently named longtime golf industry veteran Jeff Foster as their Chief Strategy Officer. As part of his role, Foster will be appointed CEO of SkyTrak.

"For more than two decades, GOLFTEC and SkyTrak have been included among golf's most well-respected and impactful brands," said Foster. "This is an incredible opportunity to leverage the strengths of both companies and build an experience that provides limitless opportunities."

Following record sales in 2021 as well as receiving Golf Digest's "Best in Golf" Award for the fifth consecutive year, SkyTrak remains golf's most popular consumer launch monitor that provides golfers of all skill levels with highly accurate, real-time feedback.

"GOLFTEC is the perfect partner at the perfect time," said Don Thorup of SkyTrak. "The demand for non-traditional forms of golf is at an all-time high, and after hearing GOLFTEC's vision for what we could build together, we knew this was the right direction for our brand."

With over 230 locations worldwide and over 900 Certified Personal Coaches, GOLFTEC is the world leader in golf improvement. In 2021, GOLFTEC Coaches provided over 1.5 million golf lessons to nearly 200,000 golfers with an average improvement of seven strokes. In 2022, GOLFTEC will continue its momentum by opening approximately 30 new locations and by developing new digital-first products that enhance and expand the GOLFTEC improvement experience.

Baird served as financial advisor to GOLFTEC.

Raymond James served as financial advisor to SkyTrak.

Since 1995, GOLFTEC's mission has remained the same—to help people play better golf. The GOLFTEC experience is designed for golfers of all ages and abilities to work with an expert Coach to build a game improvement plan customized to their specific needs and goals. GOLFTEC's cutting edge training systems, including the proprietary OptiMotion technology, gives Students and Coaches instant and data-driven feedback. With millions of lessons given and more than 230 locations across the world, GOLFTEC is the world leader in golf improvement.

SkyTrak is golf's most popular consumer launch monitor and simulator. SkyTrak provides golfers of all skill levels accurate, real-time feedback making it a complete practice, play and entertainment system. A great solution for consumers, teachers, club fitters and PGA Professionals, SkyTrak delivers quality ball flight simulations that reflect a golfer's actual performance.

Media Contact: Ryan Gager
720.541.1027
[email protected]

SOURCE GolfTEC

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