Callaway Golf Announces Acquisition of uPlay
Callaway Golf Company today announced it has acquired uPlay, a Carlsbad, California-based developer and marketer of technically superior consumer electronics devices. The transaction, which was completed on December 31, 2008, is not expected to have a material effect on Callaway Golf Company's 2009 results. Terms of the deal are not being disclosed.
In January 2008, uPlay launched the uPro™, a distance measuring device that features state-of-the-art technology to make it the most innovative and effective product of its kind. With features that are unparalleled in the industry, the uPro provides golfers with aerial and satellite photography coupled with GPS technology to clearly show golf course hazards, distance and the overall layout of each hole.
"The acquisition of uPlay makes sense for us on several fronts," said George Fellows, President and CEO, Callaway Golf. "We've said that we would look for acquisitions to help accelerate our growth, and the combination of uPlay with its innovative GPS platform and Callaway Golf's technical leadership in club and ball development will do just that by creating incremental new business opportunities, while also enhancing golfers' experiences on the golf course."
*Article from Yahoo Finance.