Internet Brands, owner of CarsDirect.com and ApartmentRatings.com, has signed a definitive agreement under which KKR, a leading global investment firm, will acquire Internet Brands from Hellman & Friedman and JMI Equity.
KKR is making its investment in partnership with Internet Brands chief executive officer Bob Brisco and the Internet Brands management team, who will hold a minority stake in the company and continue to run the business.
Internet Brand’s online properties attract more than 100 million unique visitors per month and serve more than 100,000 SMBs and advertisers. The Company has approximately 1,600 employees and is headquartered in El Segundo, California.
Internet Brands operates leading brands in the following categories:
Herald Chen, Member of KKR and Co-Head of the firm’s technology investing team, added, “Internet Brands is at an exciting inflection point of growth as the company transitions from a portfolio of web assets to a vertically integrated provider of media and client software solutions. Its growth has been driven by its propriety operating platform and a management team with a focused vision. We look forward to partnering with the team and supporting the company in its next phase of growth.”
Tarim Wasim, Managing Director of Hellman & Friedman, added, “We have had a very successful partnership with Bob and the entire Internet Brands team. We are proud of the Company’s performance and transformation, and wish the team continued success under KKR’s ownership.”
KKR has a long history of successfully investing in market leading businesses in technology, including recent investments in Go Daddy, Mitchell, Visma, Fotolia, and Ipreo.
Edited by Gordana Davila