It has been a complicated journey (see previous Fusion DigiNet stories listed below), but on December 16, 2010, Internet Brands’ stockholders approved the going-private transaction at a special meeting of stockholders. Pursuant to the definitive merger agreement among Internet Brands, Micro Acquisition Corp. and Micro Holding Corp., dated as of September 17, 2010, Internet Brands stockholders will receive $13.35 per share in cash, without interest and less any applicable withholding taxes, for each share of common stock they owned immediately prior to the effective time of the merger (other than shares owned by Micro Holding Corp., Micro Acquisition Corp., Internet Brands and their subsidiaries, and by stockholders who have perfected and not withdrawn a demand for appraisal rights). Internet Brands’ Class A common stock will cease trading on The NASDAQ Global Select Market at the close of market today and will be delisted.
Simpson Thacher & Bartlett LLP served as counsel to Hellman & Friedman. Munger, Tolles & Olson LLP served as counsel to Internet Brands. Jefferies & Company, Inc. acted as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to the Special Committee of the Board of Directors of Internet Brands.
About Internet Brands, Inc.
Internet Brands, Inc. (NASDAQ: INET) is a unique and leading Internet media company. The company owns and operates more than 100 websites that are leaders in their vertical markets. In total, these sites organically attract (without paid marketing) approximately 70 million unique visitors per month. The vast majority of these sites have very strong community participation. Internet Brands is unique in its ability to monetize Internet audiences. The company’s proprietary platform optimizes yields from its more than 40,000 direct advertisers spanning seven vertical categories. The platform is core to the company’s acquisitions strategy, providing a cost-efficient and scalable approach to expanding the company’s online footprint. Internet Brands was founded in 1998 by Idealab, a creator and operator of technology companies based in Pasadena, California.
USA, Pasadena, CA
- Kendall Law Group investigates Internet Brands acquisition – says the transaction may be undervaluing the company Posted on September 21, 2010
- Internet Brands to be acquired by PE firm Hellman & Friedman for $640 million Posted on September 21, 2010
- Internet Brands acquires DoDTracker.com and PursePage.com Posted on April 28, 2010
- Internet Brands acquires online professional directory network ExpertHub Posted on April 28, 2010