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.
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.
