Patrick Reed Masters Win Puts Spotlight on Cloud Software Firm

(Bloomberg) -- Patrick Reed wasn’t the only winner at the Masters Sunday. The first-time major champion’s bag sponsor, The Ultimate Software Group Inc., featured prominently as the camera followed the 27-year-old throughout the tournament.

The cloud-based software provider out of Weston, Fla., inked a deal with Reed in June and had its logo featured on the Texan’s bag and the sleeve of his pink shirt. Shares of Ultimate Software are leading the S&P Midcap Software Index on a gain of 1.5 percent.

Patrick Reed Masters Win Puts Spotlight on Cloud Software Firm

Reed was able to fend off Sunday’s top scorer and Under Armour Inc.’s golf poster child Jordan Spieth, who shot an 8-under-par 64 to come within one shot of tying the course record for lowest round. All eyes were also on Paul Casey, who charged through the field with a 7-under-par performance on Sunday, but ultimately finished 10 shots behind the winner.

The trio, along with the runner-up Rickie Fowler, underscore a positive outlook and reinforce some of Acushnet Holdings Corp.’s stranglehold on the industry. All four played Titleist golf balls and used some combination of a putter and/or wedges produced by the Fairhaven, Mass.-based company.

Patrick Reed Masters Win Puts Spotlight on Cloud Software Firm

Reed’s high profile win opens the door for an equipment sponsor. Callaway Golf Co., the other notable pure-play golf stock that trades publicly, had a 5-year deal with the golfer that ended in 2017. Reed is currently a free agent when it comes to equipment partnerships as Nike Inc. only sponsors his apparel.

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