SOLD: Internet Brands Inc., an El Segundo Internet media firm, has agreed to be acquired by a private equity firm in a deal valued at roughly $640 million. Hellman & Friedman Capital Partners, which has offices in San Francisco, New York and London, will pay $13.35 in cash for each share of Internet Brands common stock, a premium of more than 46 percent over its Sept. 17 closing price. Internet Brands is a spinoff of Pasadena Internet incubator Idealab, and operates several dozen consumer sites including CarsDirect.com, Gardens.com and DoItYourself.com.
SUB BUY: A subsidiary of Teledyne Technologies Inc. has acquired an Icelandic maker of a submersible that has commercial, scientific and defense uses. The Thousand Oaks company, which manufactures electronic components, instrumentation and communications products, said that Hafmynd ehf.’s Gavia submersible complements Teledyne’s own autonomous underwater vehicles. Among commercial applications for the Gaia is checking the condition of underwater gas and oil pipelines. Terms of the deal were not disclosed.
MORE JOBLESS: Los Angeles County lost nearly 13,000 jobs in August as local and federal government payrolls were slashed, pushing the unemployment rate up two-tenths of a point to 12.6 percent. The county reported a drop of 12,800 nonfarm payroll jobs in August, with more than two-thirds of those losses coming from the government and manufacturing sectors. One of the few bright spots was the construction sector, which gained 2,400 jobs in August on top of nearly 2,000 jobs added in July.
REFOCUS: MMC is getting out of the e-mail business by selling its Mail.com and related properties to a German company for an undisclosed amount. Trade publications estimate the L.A. company will get between $50 million and $100 million from United Internet Group, which is based in Montabur, northwest of Frankfurt. MCC, which plans to rebrand itself as a new-media company, operates specialty Internet sites such as OnCars.com, entertainment industry blogger Nikki Finke’s Deadline.com and Bonnie Fuller’s HollywoodLife.com.
DISMISSED: A Los Angeles County Superior Court has dismissed a 2009 lawsuit against Dole Food Co. Inc. that was brought by 185 Colombian plaintiffs who claimed Dole had paid off Colombian paramilitary organizations. The lawsuit was dismissed with prejudice, meaning that the Westlake Village fresh food producer is entitled to judgments against the 185 plaintiffs for bringing what the company described as a “frivolous” suit.
CHARGED: The Securities & Exchange Commission has sued William A. Goldstein and Marc E. Bercoon, alleging the Atlanta partners cold-called investors across the country who paid $3.2 million for what they thought were shares of LA Digital Post, an L.A. postproduction company about to go public. The SEC said that in reality the money was diverted to unrelated company LADP Acquisition.
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