Analysts are always interested in deals, especially when the acquisition price is revealed. According to Golf Digest, yesterday the IP of ProGear Holdings Inc. (dba Yes! Golf) was acquired by Adams Golf for a reported $1.5MM.
The auction of the bankrupt company’s assets was conducted by Heritage Global Partners, which set the terms: Bulk Sale Offering – One Lot. That lot consisted of patented technology of a truly innovative and popular Yes! Golf Putter design (it’s all in the grooves), registered trademarks of Yes!, Yes! Golf, Yes! Golf logo, and the physical inventory of putters, putter heads, accessories, apparel, training aids, components, and shafts.
The News section of the Adams Golf Web site does not yet include any details of the auction, but the smile at Adams Golf will look as if it is permanent today. Yes! Golf putters have been a mainstay on the European Tour for some time, and they have caught on with the golfing public as well, with reportedly over 11 million sold.