Silicon Beach Report June 21: Verra Mobility Sells for $2.4 Billion

By Samson Amore

June 21, 2018

169

Verra Mobility sells for $2.4 billion; Lizzie Francis joins GOAT; Pasadena company goes to Madagascar

Verra Mobility Sells for $2.4 Billion

Platinum Equity, a private equity investor headquartered in Los Angeles, announced it’s selling one of its portfolio organizations, Verra Mobility, to the Gores Group, for an estimated $2.4 billion. Verra Mobility is headquartered in Mesa, Ariz., and was previously known as American Traffic Solutions, SoCal Tech reports.

Lizzie Francis Joins GOAT

Los Angeles-based online sneaker marketplace 1661 Inc., which does business under the moniker GOAT, reported June 19 that Lizzie Francis will be appointed its first female chief operating officer. PR Newswire reports Francis will be in charge of global expansion and operations of both GOAT and its subsidiary, Flight Club, as well as improving the site’s user experience with female shoppers, more of whom are flocking to the site than ever. Prior to her tenure at GOAT, Francis worked as chief marketing officer at Gilt Groupe Inc.

Pasadena Company Goes to Madagascar

The Business Journal reported June 21 that Tetra Tech Inc., an engineering services company headquartered in Pasadena, has been awarded a $22 million contract by the U.S. Agency For International Development. The contract ensures that Tetra Tech will use its water management and engineering resources to support biodiversity efforts on the island of Madagascar, off the coast of Africa.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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