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Clarity Partners invests $17.5 million in Westec for Advanced Intelligent
Technology Development and Market Growth
IRVINE, Calif., July 20, 2005 — Westec InterActive, the leader in intelligent
video monitoring services for businesses, and Clarity Partners, an $800 million
private equity firm focused on communications, media and technology, today
announced that Clarity invested $17.5 million in Westec InterActive. In
addition, Westec CEO/Owner Gerald T. Vento invested an additional $2.5 million,
for a total invested amount of $20.0 million. The capital will be used to expand
development of Westec’s advanced technologies for intelligent business
monitoring and to allow the company to aggressively grow through acquisitions.
Clint Walker, a Partner at Clarity Partners, said, "Clarity’s investment in
Westec reinforces our belief in Jerry Vento’s vision of intelligent business
monitoring that goes beyond traditional security. Westec is leading the frontier
in the application of these intelligent technologies and we look forward to a
successful partnership."
Westec InterActive CEO Gerald T. Vento said, "Beyond its investment into Westec,
Clarity Partners brings strategic vision and expertise that will support our
efforts to grow Westec into the most sophisticated and capable source for
intelligent business monitoring."
About Clarity Partners
Clarity Partners is an $800 million private equity fund based in Los Angeles.
Clarity and its principals have a strong track record of making private equity
investments in many companies in their targeted industry groups, including
newspaper publishing, television and radio broadcasters, cable programming
networks and system operators, information and online businesses, and various
wireless and wireline telecommunications companies. All of Clarity’s partners
have operating company experience, strategic, financial and deal execution
skills, and deep relationships within the global media and communications
industry. Clarity works with its portfolio companies' management teams to
establish or grow dynamic companies with leading positions in their target
market segments. Further information can be found at
www.claritypartners.net.
About Westec InterActive
The pioneer of interactive video monitoring, Westec delivers the industry’s only
intelligent business monitoring solution serving Fortune 500 companies
throughout the U.S. Its strategic business solutions help leading restaurants,
retailers and other companies improve operations and profits through intelligent
business monitoring services. For more information on Westec InterActive
visit online at
www.westecnow.com.
For Immediate Release
PR Contacts:
Westec InterActive
Andrea Herbert
949-797-4723
aherbert@westecnow.com
Barbara Caruso
714-841-6777
carusocom@aol.com
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