Simpson Thacher is representing Hellman & Friedman in the acquisition of Internet Brands, Inc. in a transaction valued at approximately $640 million. Idealab, which beneficially owns approximately 19% of Internet Brands' common stock and approximately 64% of the voting power, has entered into a voting agreement relating to the merger agreement. The transaction is expected to close in the fourth quarter of 2010.
Internet Brands (NASDAQ: INET) is a leading Internet media company that owns and operates more than 100 websites that are leaders in their vertical markets. In total, these sites organically attract (without paid marketing) approximately 62 million unique visitors per month.
The Simpson Thacher team includes: Brian Stadler, Anthony Vernace, Andrew Hecht, Ignacio De La Huerta and Jakob Rendtorff (M&A), Brian Steinhardt (Credit), Tristan Brown, Michael Richman and Grace Lin (Executive Compensation and Employee Benefits), Lori Lesser, Jeffrey Ostrow, Keren Siman-Tov and Genevieve Dorment (Intellectual Property); and Daniel Foster (Tax).