GolfLan has acquired the Delhi-based golf technology startup Golf-Centra in an all-cash deal.
This is the third strategic investment for GolfLan over the past 18 months. The Delhi-based golf course aggregator has in January last year acquired its international competitor GolfGreedy. The deal with the Singapore –based business rival was struck for part –cash and part-stock.
According to an Economic Times report, GolfLan is looking to invest over ₹3 crore ($0.5 million) in Golf-Centra to enter the Southeast Asian markets. GolfLan, which provides various products, services, and technology solutions to golfers and golf courses in a number of countries, will be valued at $15 million post acquisition.
“This acquisition will help us to get ahead of global competitors by over 18 months and generate over $5 million of revenue in the next 12 months. During phase one, we plan to market the application to golf courses in India, Singapore, Sri Lanka, Malaysia, Thailand, Vietnam and Indonesia,” Dhruv Verma, CEO, GolfLan told Economic Times.
Golf Centra helps golf courses manage their inventory via a tech platform. Its acquisition will enable GolfLan users to get their bookings done through its platform, potentially serving over 10 million golfers and handling over 3 million transactions monthly. GolfLan to its credit has facilitated over 600,000 bookings till date.
GolfLan will charge a one-time setup fee to the golf course in addition to a monthly maintenance charge and per-golfer booking charge.
GolfLan has served over 200,000 members, through 4,000 course partners in about 50 countries. The company provides smart golf solutions, data for golf analytics and helps stimulate revenues for golf courses. The company is looking to close the current fiscal year with $2.5 million in revenues.