K.K.R. is Rumored to Buy Internet Brands

In an article published early Tuesday morning

William Alden said, "The private equity firm Kohlberg Kravis Roberts

has agreed to buy Internet Brands." Alden expects Internet Brand to announce the $1.1 billion deal later today based on comments from two anonymous sources. Internet Brands, which owns websites including Lawyers.com, CarsDirect.com and ApartmentRatings.com, is currently own by Hellman & Friedman and JMI Equity both of which are private equity firms. In addition to its websites, Internet Brands has recently entered the software industry in an area called "software as a service". Notable clients in this segment of the company's business include Toyta

, Ford

, and Chrysler. Herald Chen, the co-head of K.K.R.'s technology investing team commented, “Internet Brands is at an exciting inflection point of growth as the company transitions from a portfolio of web assets to a vertically integrated provider of media and client software solutions." This would not be K.K.R.'s first time acquiring a tech company. The firm has had previous success with Visma, a company that develops accounting and payroll software. Looking forward, Alden says K.K.R. is planing to expand upon the company's four broad business categories- automobiles health, legal, and home and travel.