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4w ago dealbreaker Views: 255

It’s paying a pretty penny for a souped-up driving range.This story is brought to you by The Daily Upside. For more crisp and insightful content, you can sign up for the free Daily Upside newsletter here.Last night, Callaway Golf Company announced a deal to acquire driving range company Topgolf for $2 billion.Reading The Greens Half party venue and half golf "experience," Topgolf is not your granddaddy's driving range. The company:operates 63 locations around the globe with open-air, climate-controlled bays.creates an "immersive" driving range experience - think Angry Birds simulation for kids and margarita delivery service for the adults.Last year, 23 million guests visited Topgolf with more than 50% identifying as "non-golfers."Top Tech: Topgolf also owns Toptracer, the leading ball-tracing technology that is known for making professional golf watchable on television. Over the last three years, Toptracer technology has been deployed at 7,500 driving bays, generating 233% revenue growth for the unit.Last Shot: The transaction is subject to the approval of Callaway shareholders, and will close in 2021 assuming no wedge is driven between the companies. -

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