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Hellman & Friedman to Buy Internet Brands

Holding company Internet Brands has entered into a definitive merger agreement to be acquired by an affiliate of private equity investment firm Hellman & Friedman Capital Partners VI. The transaction is valued at about $640 million. "Under the terms of the agreement, stockholders of NASDAQ-listed Internet Brands will receive $13.35 in cash for each outstanding share of common stock they own, a premium of approximately 46.5% over the closing price last Friday," reports TechCrunch.

The Idealab-backed company presently owns and operates over 100 vertical Web sites, including Autos.com, Gardens.com, Loan.com and DoItYourself.com. "Why potentially go private again?" asks CEO Bob Brisco in a blog post. "Because we believe this would be a good deal for our shareholders. Because we would continue to build one of the finest New Media companies in the world and become even more focused on long-term growth. Because H&F would be a great partner."

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