Vista Outdoor To Acquire Foresight Sports For $474M

Vista Outdoor Inc VSTO has agreed to acquire San Diego-based Foresight Sports, a designer and manufacturer of golf performance analysis, entertainment, and game enhancement technologies, for $474 million.
Foresight Sports produces launch monitors, simulators, performance/entertainment software, and smart mobility solutions for on- and off-course golf activities and various other sports and games.
The gross purchase price includes a net present value of roughly $60 million in future tax benefits and does not include contingent incentives of up to $25 million.
Vista Outdoor expects the transaction to be immediately accretive to earnings.
The company expects the deal to close in Q3 FY22.
For 2021, Foresight Sports' net sales are expected to be $100 million and adjusted EBITDA to be $50 million.
Vista held $208.7 million in cash and equivalents as of June 30, 2021.
Price Action: VSTO shares are trading higher by 3.87% at $41.84 on the last check Friday.