Hellman & Friedman Acquired Internet Brands

Private equity firm Hellman & Friedman has entered into agreement to acquire online media company

Internet Brands for approximately $640 million in cash, at $13.35 a share. The price is a 46.5% premium over the closing price on September 17, 2010.
Internet brands operates a large number of media, community, and e-commerce websites, including DoItYourself, Wikitravel, Loan.com, Autos.com and others.

The company’s largest shareholder Idealab, a startup incubator that founded Internet Brands back in 1998., has entered into a voting agreement with Hellman & Friedman for the merger.


Hellman & Friedman invests through a series of private equity funds, and has previously invested in Nielsen, Nasdaq and Getty Images, among other companies.

The transaction still needs to be approved by shareholders, and is expected to close in the fourth quarter of 2010.