June 3 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)