KKR announces acquisition of WebMD

KKR's Internet Brands has acquired WebMD in a deal worth approximately $2.8 billion (2.1 billion pounds).

The deal is set to be completed in the fourth quarter of 2017, and comes after WebMD – one of the world's leading providers of health information services – revealed it was looking into strategic alternatives in February 2017.

Chairman of WebMD Martin J Wygod said he was pleased to announce the deal after a "thorough review" of the brand's options. 

"WebMD and its financial advisors had a process that involved outreach to more than 100 strategic and financial parties, and we are confident that this transaction maximises value for our stockholders," he stated.

Chairman of Internet Brands and head of the technology industry team Herald Chen said KKR and Internet Brands are pleased to be investing in what is a "trusted" platform, adding that the company is looking forward to "accelerating the growth and global expansion" of WebMD.

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