EL SEGUNDO, Calif. -

Internet Brands, an online media and software services organization that includes such automotive players as CarsDirect, Chrome Data and Autodata Solutions, announced earlier this week that it will be purchased by global investment firm KKR.

The two companies signed a definitive agreement in which KKR will purchase Internet Brands from Hellman & Friedman and JMI Equity.

The statement released Monday indicates that Internet Brands chief executive officer Bob Brisco and the company’s management team will hold a minority stake in the company and continue running its operations.

Brisco said, “We’re delighted to be partnering with KKR at this important juncture in our business, when we have dramatically expanded our client solutions portfolio and our growth in key areas is accelerating.”

Herald Chen, member of KKR and co-head of the firm’s technology investing team, added, “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.

“Its growth has been driven by its propriety operating platform and a management team with a focused vision. We look forward to partnering with the team and supporting the company in its next phase of growth.”

Tarim Wasim, managing director of Hellman & Friedman, said:  “We have had a very successful partnership with Bob and the entire Internet Brands team. We are proud of the Company’s performance and transformation, and wish the team continued success under KKR’s ownership.”

For more information on Internet Brands, which also operates outside of the automotive space, visit www.internetbrands.com.