SkyMall Acquired by Private Equity Firm
An affiliate of Phoenix-based private equity investor Najafi Cos. has acquired the well-known SkyMall in-flight catalog and e-commerce business for an undisclosed sum. Although the privately held SkyMall doesn't disclose revenue, annual sales are thought to exceed $100 million. Through its Direct Brands unit, Najafi already sells books, music and other products to members of the various direct marketing clubs it operates in the United States, Canada and Europe. With SkyMall, Najafi sees an opportunity to offer new products to its book- and music-club members and books, music and videos to SkyMall catalog readers.