Revelyst, Vista Outdoor’s outdoor products segment, has acquired PinSeeker, a golf simulator and connectivity app company, Vista Outdoor announced Monday.
PinSeeker is described as enabling players to compete globally in real-time, virtual, closest-to-the-pin golf tournaments. It will be integrated into Foresight Sports, the golf-launch monitor and simulator brand in Revelyst’s Precision Sports Technology platform. Terms of the deal were not disclosed.
According to a news release, 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.
PinSeeker employees in Orlando, Florida 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, in a release.
Vista Clears Regulatory Hurdle
Vista Outdoor also announced on Friday that the U.S. Securities and Exchange Commission declared effective its registration statement on Form S-4 filed by subsidiary Revelyst in connection with The Kinetic Group’s (Vista’s sporting goods and ammunition division) proposed acquisition by Czechoslovak Group.
The announcement is a key achievement in Vista Outdoor’s strategic plan to unlock value by separating its Revelyst and The Kinetic Group segments into separate companies, the company said in a news release.
“We are excited to reach this important milestone as we position The Kinetic Group and Revelyst for long-term success,” said Michael Callahan, chairman of the Vista Outdoor Board of Directors, in a release. “We believe the proposed sale provides us the best strategic alternative to maximize value for stockholders.
Nyman added that Revelyst has a “clear line of sight to a solid foundation” through the company’s Gear Up transformation program, which is expected to drive $100 million of run rate cost savings by fiscal year 2027.
Under the Gear Up plan, Revelyst will be divided into the following segments:
- Precision Sports and Technology: Foresight Sports and Bushnell Golf.
- Adventure Sports: Fox Racing, Bell Helmets, Giro Sport Design, CamelBak, QuietKat Electric Bikes, Blackburn and more.
- Outdoor Performance: Simms Fishing Products, Bushnell, Blackhawk, Stone Glacier, Camp Chef, Primos and more.
“As we look ahead to Revelyst being a standalone company post-separation, our brand-led consumer obsessed and maker-fueled culture is coming into shape,” Nyman said. “We are positioned well with winning brands, an efficient structure, a strong balance sheet post-separation and the right people to drive stockholder value.”
Vista Outdoor also announced a date to consider and vote on a proposal to approve the separation. The meeting will be held virtually on May 16, 2024, at 9 a.m. Central time.
