Internet Brands discloses $12 bln valuation with Warburg Pincus investment

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Internet Brands Inc. said Tuesday it drew an enterprise value of $12 billion as part of a recapitalization in which Warburg Pincus invested an undisclosed sum in the El Segundo, Calif.-based online media and software services company. KKR & Co. Inc. KKR, +0.97% will remain the majority investor in Internet Brands, with existing investor Temasek retaining a minority position. “While Internet Brands has grown 8X since KKR’s initial investment in 2014, we know the greatest opportunities for us are still ahead,” Internet Brands CEO Bob Brisco said. As part of the deal, Mark Colodny, co-head of U.S. private equity for Warburg has joined the Internet Brands board.

This article was originally published by Marketwatch.com. Read the original article here.

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