Golfnow acquires Teeofftimes.co.uk for undisclosed sum

Golfnow acquires Teeofftimes.co.uk for undisclosed sum

Online golf course tee times aggregator, Teeofftimes.co.uk, has been sold by Golfbreaks.com to the UK division of Golfnow for an undisclosed sum.

The business lists more than 1,400 golf courses and booked 410,000 rounds of golf in 2014.

US-based GolfNow is an online tee time booking and golf course technology and services platform that connects golfers to over 9,000 courses across the US and worldwide.

GolfNow is part of a group of digital businesses managed by Golf Channel, a multimedia and entertainment subsidiary of international media group Comcast.

A strategic partnership has been forged through the deal which enables Golfbreaks.com to expand its fast-growing US operations while allowing GolfNow to enter the UK market, becoming the global leader in digital tee time distribution.

Mergers and acquisitions specialist Altium acted as exclusive financial adviser to Golfbreaks.com on the sale.

Steve Hemsworth, managing director of Golfbreaks.com, said: “We are delighted to have worked with Altium on the sale of Teeofftimes.co.uk. They helped us to understand the strategic value of the business and we found their approach to be professional and diligent.

“We are proud of the continued growth we have achieved to date at Golfbreaks.com and Teeofftimes.co.uk and we look forward to seeing the further expansion of the travel side of our business into new markets.”

Altium managing director, Christopher Jones, added: “In the same way that Toptable and Just Eat have revolutionised the way people dine, Teeofftimes.co.uk has embraced changes in consumer behaviour, connecting golfers and golf courses through the innovative use of digital technology.”

The deal is the latest in a series of cross-border e-commerce transactions advised on by Altium.

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