FINANCE

Frederick’s of Hollywood shareholders OK going private

BY Dan Berthiaume

Hollywood, Calif. – Frederick’s of Hollywood Group Inc. shareholders approved, at a special meeting of shareholders held May 28, the previously disclosed merger agreement that provides for the acquisition of the company. The merger was approved by more two-thirds of the aggregate voting power of the company’s common stock.

The total transaction is valued at approximately $24.8 million. The agreement calls for Frederick’s to be acquired by a group consisting of HGI Funding LLC, a wholly owned subsidiary of Harbinger Group Inc., other common and preferred shareholders who as a group beneficially own approximately 88.9% of the company’s common stock.

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News

Nxt-ID release smart wallet

BY Dan Berthiaume

Shelton, Conn. – Nxt-ID Inc., a biometric authentication company focused on the m-commerce market, is releasing its next generation smart wallet, Wocket. The Wocket works anywhere credit cards are accepted and only works with the user’s biometric stamp of approval.

Credit, debit, ATM, loyalty, gift, ID, membership, insurance, ticket, emergency, medical, business, contacts, coupon, and virtually any card can be protected on Wocket. More than 10,000 cards, records, coupons, etc. and 100 voice commands can also be stored on Wocket.

“Today is milestone for both NxT-ID and consumers that are concerned about the security of their wallet,” said Gino Pereira, CEO. “We designed the Wocket specifically for the consumer of today that is still not willing to put all their payment and identity info on their smartphone. We believe Wocket is the solution that addresses security issues that consumers care about but still is convenient and easy to use.”

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MARKETING/SOCIAL MEDIA

Social Reality upgrades social media platform

BY Dan Berthiaume

Los Angeles – Social Reality Inc., an Internet advertising and platform technology company that provides tools to automate the digital advertising market, is launching the latest version of its GroupAd platform. GroupAd is a social media management platform that allows brands to identify and reward brand advocates.

Brands may select from a library of pre-created applications that run on mobile devices, on a brand’s website and or on a brand’s Facebook Fan Page. After choosing an application from the GroupAd library, the brand has the opportunity to attach a rewards program or a charity program to its campaign in order to drive engagement. GroupAd’s dashboard offers insight into the brand’s advocates and provides a tool to reach these consumers.

"GroupAd 3.0 is beautiful and we could not be more proud of the technology team,” said Christopher Miglino, Social Reality’s chairman and CEO. “We are excited to start selling the platform to brands and agencies and look forward to this contributing to our revenue growth for the remainder of this year and beyond."

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