Benzinga | Sep 10, 2021 07:36PM EDT

Vista Outdoor To Acquire Foresight Sports For $474M

* Vista Outdoor Inc (NYSE: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.