Accruent acquired by Vista Equity Partners
Santa Monica, Calif. Accruent, a leading provider of Enterprise Location Management (ELM) solutions, announced that it has been acquired by Vista Equity Partners. Vista, a private-equity firm with over $2.5 billion in committed capital, invests in private and public software and software-enabled companies, focusing on successful organizations committed to maintaining industry leadership.
“Vista is the right business partner for Accruent because they share our focus on delivering exceptional long-term value to customers, and they have a unique strategy for driving operational improvement,” said Mark Friedman, CEO of Accruent. “Today’s announcement marks an important milestone in our maturity as a company and the start of a new chapter in our growth. Vista’s investment is a validation of our progress to date and provides the resources and expertise to take Accruent to the next level.”
Accruent provides a comprehensive suite of ELM solutions that enables organizations to develop, administrate and operate their property portfolios as a competitive advantage. Accruent’s solutions allow clients to establish a single “system of record” for all information related to their locations by replacing the fragmented sources and systems previously in place. When coupled with process management and advanced business intelligence, Accruent helps organizations align real estate and facilities strategy with business strategy.
Coldwater Creek closing downtown Seattle store
New York City Coldwater Creek is closing its downtown Seattle store after 10 years to focus more on stores in suburban markets, the Puget Sound Business Journal reported.
The lease for the store has expired and the company will close the store Jan. 30.
Since the store opened, Coldwater Creek has changed its business model to focus on growth in suburban markets with smaller stores, the report said.
The Sandpoint, Idaho-based company will continue to operate its Seattle-area stores at Bellevue Square, Lynnwood’s Alderwood Mall and Tacoma Mall, as well as stores in Kent and Gig Harbor.
Lowe’s card offers points to small business customers
Las Vegas Mooresville, N.C.-based Lowe’s Cos. teamed with American Express Open to launch the Lowe’s Business Rewards Card.
The key feature of the new payment product is the ability to offer small business customers reward points. It’s the first rewards program for Lowe’s small business credit customers.
In a prepared statement, Lowe’s president and COO Larry Stone said the Rewards Card “offers convenience and rewards at a time when business owners need it most.”
The breakdown of the points follows a simple plan: one point for every dollar spent on the card; double points for dollars spent at Lowe’s; and triple points for dollars spent on restaurant purchases, office supplies and wireless bills.
The announcement of the new card was made during the International Builders’ Show in Las Vegas.