Internet Brands To Be Acquired by KKR For $1.1 Billion
Kohlberg Kravis Roberts — also known as KKR, a global investment firm — has announced that it will acquire Internet Brands from Hellman & Friedman LLC and JMI Equity, according to this press release.
Although the amount of capital to consummate this acquisition has not been publicly released, Internet Brands — the company which owns FlyerTalk, vBulletin and greater than 100 other Internet web sites — announced back in September of 2010 that it had been acquired by an affiliate of private equity investment firm Hellman & Friedman Capital Partners VI in a deal said to be worth approximately $640 million.
KKR is making its investment in partnership with Bob Brisco — the chief executive officer of Internet Brands, whose headquarters is located in El Segundo, California — and the management team of Internet Brands, who will hold a minority stake in the company and continue to operate the business, which includes FlyerTalk.
Approximately 1,600 people are currently employed by Internet Brands.
Edited to add on Wednesday, June 4, 2014: According to The New York Times, the deal is worth $1.1 billion.