Monday, September 20, 2010
Internet Brands Acquired For $640M
El Segundo-based Internet Brands, the Internet media firm headed by Bob Brisco, has been acquired by private equity firm Hellman & Friedman Capital Partners, in a deal worth approximately $640M. According to Internet Brands, Hellman & Friedman will pay $13.35 in cash for each outstanding share of common stock of the firm. The price is a premium of approximately 46.5 percent over its closing price Friday. Internet Brands board was advised by Jeffries & Company, and Skadden, Arps, Slate, Meagher & Flom LLP in the deal.internet Brands was advised by Munger, Tolles & Olson LLP. Hellman & Friedman was advised by Simpson Thacher & Bartlett LLP. Internet Brands owns a wide network of online web sites in a number of verticals.