Operators of the highly successful TopGolf Game Centres have bought the intellectual property assets of TopGolf from World Golf Systems (WGS).
Watford based WGS developed the hi-tech golf balls and the ID Ball System software behind the unique TopGolf game. The move enables TopGolf to have full autonomy of and responsibility for research and development. Accordingly, officials from the company have announced their intention to introduce new TopGolf games and technologies to enhance the customer experience in existing and planned developments worldwide.
TopGolf, owned by London based Golf Entertainment International (GEI), runs three UK Game Centres in Watford (Herts), Chigwell (Essex) and Addlestone (Surrey) along with three US Game Centres in Chicago, Dallas and Washington DC.
Richard Grogan, Chairman and Chief Executive of GEI, commented: “It has long been our desire to have responsibility for the continued development and improvement of the technology that makes TopGolf unique.”
“World Golf Systems has done an extraordinary job in the creation of a way of playing the game of golf that has changed the way people think about golf. With this transaction we can now apply our operating experience to take the technology to the next level.”
“World Golf Systems will continue to be an important shareholder in Golf Entertainment International. Shareholders in both companies will benefit from the future development of TopGolf in the United Kingdom, the United States and around the world.”
WGS Deputy Chairman Steve Joliffe said: “The evolution marked by this transaction has long been acknowledged as the right way forward. We are delighted to have come to an equitable agreement. This transaction is a key step in the evolution of all parties involved.”
GEI was founded in 2005 with a view to developing TopGolf technology internationally. The ID Ball System software, along with the microchip in each ball, allows players to record distance and accuracy from the bays at TopGolf centres.