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recent acquisition of World Golf Tour (WGT). WGT is the leading web and mobile golf game, with more than 14 million players worldwide across online, social and mobile platforms. TEG also recently formed the Topgolf International division, which will oversee expansion of the brand abroad. “Topgolf has transformed itself into a global sports lifestyle brand, and with Providence’s strategic partnership, we will be well-positioned to accelerate openings and further extend our reach beyond the four walls of our venues,” said TEG co-chairman and CEO Erik Anderson. “Providence is one of the leading growth investment firms in sports and sports media companies, and we look forward to additional insight and support as we advance our vision to provide our fans with the best times of their lives.” Providence’s previous and current sports and sports media-related investments consist of Ironman Triathlon, Major League Soccer (MLS) Media, Learfield Sports, Yankees Entertainment & Sports Network (YES), Professional Association of Diving Instructors (PADI), and Chime Communications. “Topgolf has evolved not only the way people play golf but also where they go for entertainment,” said Providence Equity managing director Scott Marimow. “Topgolf has a unique position in the industry and has demonstrated expertise in achieving remarkable growth, while maintaining the spirited culture behind the Topgolf experience. We look forward to partnering with this proven executive team to further accelerate Topgolf’s success.” Morgan Stanley & Co. LLC and J.P. Morgan acted as financial advisers, and Gibson Dunn & Crutcher LLP acted as legal adviser to TEG in connection with the investment from Providence. Weil, Gotshal & Manges LLP acted as legal adviser to Providence in connection with this investment. Providence Equity is a global asset management firm with $45 billion in assets under management across complementary private equity and credit businesses. The firm pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 150 companies and is the leading equity investment firm focused on the media, communications, education and information industries. The firm is headquartered in Providence, Rhode Island and also has offices in New York, London, Hong Kong, Singapore and New Delhi.]]>