Plugging In: Everbridge Inc., a Glendale operator of emergency notification services for governments and businesses, has acquired CloudFloor, a Waltham, Mass., cloud-computing technology company. Everbridge’s products enable organizations to make mass notifications via text messages, phone, e-mail and other means. Financial terms were not disclosed.
WEST LOS ANGELES
Done Deal: JigoCity, a West L.A.-based daily deal website operator, has been acquired by FriendFinder Networks Inc., a Boca Raton, Fla., publisher of Penthouse magazine and operator of adult social networking sites. FriendFinder said the acquisition would expand its social networking business in the Asia-Pacific market. JigoCity provides advertiser daily deals in Australia, China, Hong Kong, Singapore, Taiwan and Brazil.
Acquisition Arm: Watt Cos., a Santa Monica real estate services company, has launched acquisition arm Watt Investment Partners to target properties in the Western United States. Watt has committed $60 million to invest in a variety of projects including retail, multifamily and land for development. Watt veterans Jim Maginn and Dean Pentikis will lead the new venture.
New Delivery: Giggle, a New York-based retail chain of baby products, has opened a store in Santa Monica. The new outpost, at 1120 Montana Ave., is the high-end chain’s fifth in California and 15th overall.
Healthy Growth: WestPark Capital Inc., a Century City investment firm, has launched a division, Tekesta Capital Partners, to focus on the life sciences market. Robert Keyser and R. Douglas Armstrong will oversee the division.
SAN FERNANDO VALLEY
Taking Off: Maguire Aviation Group LLC at Van Nuys Airport is building a 10,000-square-foot terminal at the airport that will be leased by NetJets Inc., a Columbus, Ohio, business aircraft operator. The project is scheduled to be completed by early next year. Financial terms of the deal were not disclosed.
Hospitality Honor: Westlake Village Inn has received the Four Diamond Property Award from AAA, an auto and travel organization based in Heathrow, Fla. AAA bestows the Four Diamond on only 3 percent of the 58,000 lodging businesses endorsed by the association. The award is determined by a range of customer service and performance criteria.
Music Score: Bug Holdings Inc., parent company of independent music publisher Bug Music Inc. in Hollywood, has been acquired by BMG Rights Management, a joint venture of Berlin media conglomerate Bertelsmann AG and New York investment firm Kohlberg Kravis Roberts & Co. BMG is acquiring Bug Holdings from Boston’s Spectrum Equity Investors and L.A.-based Crossroads Media Inc. Financial terms of the deal were not disclosed.
The article in the Sept. 12 issue headlined “Clothing Maker Puts Brand on New Business Model” should have said that Cherokee Chief Executive Henry Stupp is 48 and that the size of a temporary retail space is 7,000 square feet. Also, a comparison of the company’s annual revenue in fiscal year 2007 and fiscal year 2011 wasn’t accurate because it included a one-time payout. The article should have said that the company’s revenue from royalty payments was $44 million in 2007 and was 30 percent lower in 2011.
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