Kohlberg Kravis Roberts, a leading global private equity firm founded by Henry Kravis and George Roberts, agreed to acquire Internet Brands in a deal worth at $1.1 billion.
Under the terms of the deal, worth $1.1 billion according to The New York Times, KKR will buy Internet Brands from private-equity firms Hellman & Friedman and JMI Equity.
The deal is the second major asset sale for Hellman & Friedman in under a week. On Thursday, the firm agreed to sell Sheridan Healthcare for about $2.35 billion to Amsurg Corp. Hellman & Friedman has invested in over 75 companies since its founding in 1984.
For KKR, the move to buy Internet Brands is a further investment in the technology sector. The firm joined two peers in acquiring Internet domain name registrar GoDaddy Group Inc. in 2011, and also touted other recent investments, including Nordic software provider Visma Group Holdings and software provider Ipreo Holdings LLC. KKR recently agreed to sell Ipreo after about three years of ownership.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Kohlberg Kravis Roberts, KKR, Henry Kravis, George Roberts, Internet Brands, The New York Times, Hellman & Friedman, JMI Equity, Amsurg Corp., GoDaddy, GoDaddy Group Inc., Nordic Software Provider, Visma Group Holdings, Ipreo Holdings LLC.