Callaway Golf sells Top-Flite, settles Acushnet patent dispute

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Callaway Golf sells Top-Flite, settles Acushnet patent dispute
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3 h7 l: K  P  Y/ v& |Monday, April 16, 2012

Carlsbad, CA - Callaway Golf announced the sale of the Top-Flite brand to Dick’s Sporting Goods and settled patent litigation with Acushnet. “The decision to sell Top-Flite reflects the company’s renewed focus and commitment to driving the proficiency of our core businesses, specifically the success of Callaway and Odyssey products,” said Chip Brewer, president and CEO, Callaway Golf. Brewer. “Our strong working relationship with Dick’s Sporting Goods went a long way towards the completion of this agreement and we look forward to their stewardship of the Top-Flite brand.” Callaway and Acushnet jointly announced that they have reached a settlement of all pending litigation and disputes, including disputes beyond the golf ball suits between the parties. No money changed hands, but under the terms of the agreement, each company will have specified rights to make ball and club products under patents owned by the other. Details of the settlement are confidential.