Versant, the cable television group spun out from Comcast last year, is acquiring sports technology firm Full Swing from Bruin Capital for US$530 million. The deal aims to diversify Versant’s revenue streams and enhance its live sports coverage by integrating Full Swing’s golf simulation and data technology into its digital ecosystem.
Versant Diversifies Beyond Linear Broadcasting
Versant is moving to reduce its reliance on traditional cable television as pay-TV households continue to decline. According to Versant chief executive Mark Lazarus, the acquisition of Full Swing provides a strategic platform to invest in core markets and create new ways to serve passionate audiences. The company operates several former NBCUniversal cable properties, including USA Network, CNBC, and Golf Channel, as well as digital services such as GolfNow and Rotten Tomatoes.
By acquiring Full Swing, Versant integrates a hardware and software provider that has produced golf sim tech for 40 years. Lazarus stated that the move allows Versant to scale a multi-sports technology platform for athletes, coaches, consumers, and fans, starting with its existing strength in golf.
Full Swing’s Role in TGL and Professional Golf
Founded in 1986, Full Swing is an official PGA Tour licensee. Its technology is used by several leading professionals, including Tiger Woods, and is deployed across residential, commercial, and entertainment venues.
The company’s technology is a foundational element of TMRW Sports’ TGL golf competition. Full Swing powers the virtual world environments at the SoFi Center, including three virtual greens. These greens utilize 189 actuators and jacks to dynamically alter slopes and gradients, and are among the largest ever constructed. While primarily known for golf, Full Swing has recently expanded its technology into baseball and other sports to meet the demand for immersive, data-driven experiences.
Bruin Capital’s Exit Strategy and Financial Gain
The US$530 million sale marks a significant return for Bruin Capital. Bruin acquired Full Swing for a reported US$160 million in July 2021. George Pyne, Bruin Capital founder & chief executive, described the sale as the intended “next chapter” for the company, noting that Full Swing’s data and technology fit the interactive, athlete-to-fan ecosystem Versant is building.
This transaction follows a series of high-profile exits for Bruin Capital, which has more than US$2.5 billion worth of assets under its management:
- Deltatre: Bruin transformed a US$160 million stake into a US$900 million sale in six years.
- On Location: Sold to Endeavor for US$660 million in 2020 after being purchased for US$70 million in 2015.
- Two Circles: A majority stake was sold to Charterhouse Capital Partners in 2024, having originally paid US$40 million five years earlier.
Bruin’s Current Market Position
Bruin Capital continues to deploy capital across the global sports industry. In May, the firm acquired a 15 per cent stake in Matchroom, valuing the boxing, darts, and snooker promoter at more than UK£1 billion (US$1.36 billion). Earlier this year, Bruin raised US$1 billion for a new investment vehicle. The firm’s current portfolio also includes stakes in TGI Sport, Box To Box Films, and AS1 soccer agency.
| Entity | Acquisition Price (Approx.) | Exit Price (Approx.) | Holding Period |
|---|---|---|---|
| Full Swing | US$160 Million | US$530 Million | N/A |
| On Location | US$70 Million | US$660 Million | 5 Years |
| Deltatre | US$160 Million | US$900 Million | 6 Years |
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