KKR to buy Internet Brands for $1.1 bln - NY Times

June 3 Tue Jun 3, 2014 7:17am EDT

June 3 (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. (r.reuters.com/myv79v)

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)