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KKR to buy Internet Brands for reported $1.1 billion

June 3, 2014, 2:45 PM UTC

Private-equity firm KKR & Co. LP (KKR) has agreed to buy Internet Brands, which has a slate of web properties including, and other consumer-focused websites that court more than 100 million monthly visitors.

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. (EVHC). 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.

California-based Internet Brands, which has about 1,600 employees, generally focuses on four key markets: autos, health, legal, and home and travel. Internet Brands debuted on the public market in 2007 but was acquired for $640 million in cash in 2010.