KKR to buy Internet Brands for $1.1 billion: NY Times

Reuters News
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Posted: Jun 03, 2014 7:19 AM

(Reuters) - Private equity firm KKR & Co LP has agreed to buy website operator Internet Brands Inc from Hellman & Friedman and JMI Equity for $1.1 billion in a bid to help the company expand its services, the New York Times reported citing people familiar with the matter.

Internet Brands operates websites such as Lawyers.com, CarsDirect and ApartmentRatings.com. Most of its revenue comes from online advertising.

Internet Brands' chief executive, Bob Brisco, and its management team will hold a minority stake and continue to run the company, the report said.

(Reporting by Soham Chatterjee; Editing by Simon Jennings)