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Internet Brands' Autodata Solutions to Be Acquired by Thoma BravoLOS ANGELES, April 30, 2019 /PRNewswire/ -- MH Sub I, LLC dba Internet Brands, a KKR portfolio company, today announced that it has reached an agreement with Thoma Bravo, LLC, a leading private equity investment firm, under which Thoma Bravo will acquire Internet Brands' Autodata Solutions Group. Terms of the transaction were not made public, and the closing is expected to be completed within the coming weeks, subject to customary closing conditions. Following the transaction, the Autodata Solutions management team will remain intact and will continue to operate from its headquarters in London, Ontario, Canada and Troy, Michigan, with offices in Portland, Oregon, Minneapolis, Minnesota, and Calgary, Alberta, Canada. "I'm thrilled to be leading Autodata Solutions as we begin our new partnership with Thoma Bravo," said Craig Jennings, President of Autodata Solutions. "The Autodata Solutions story is amazing; starting with a small core group of executives that built the business, to an organization that today has more than 700 employees. We have grown rapidly over three decades and all the while serving the most prestigious brands and partners in the automotive industry." "I'd like to thank Internet Brands for their support over the past 20 years," added Jennings. "I speak on behalf of all Autodata Solutions employees when I express how excited we are as we look forward to our next phase of accelerated growth." "Over the last five years, we have worked with the Internet Brands and Autodata Solutions management teams to build a leading automotive software and market services platform by maintaining Autodata's product edge through organic and inorganic investments," said KKR Members Herald Chen and John Park. "We are confident it will retain this positive trajectory and track record of innovation under Thoma Bravo's ownership." "As technologica innovation drives massive change within the automotive industry, we believe Autodata Solutions Group is well positioned to be at the forefront of that future," said Scott Crabill, a Managing Partner at Thoma Bravo. "Our operational knowledge within the software industry and ability to leverage resources can only enhance the company's unique data-driven solutions and interactive marketing initiatives." RBC Capital Markets is serving as the exclusive financial advisor to Internet Brands, and Simpson Thatcher is serving as the legal advisor to Internet Brands. Kirkland & Ellis is serving as the legal advisor to Thoma Bravo. Financing for the transaction is being provided by RBC Capital Markets and KKR Capital Markets LLC. About Autodata Solutions About Internet Brands About Thoma Bravo, LLC
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