Apax Partners is buying Answers Corp. from Summit Partners, TA Associates and founding shareholders.
Answers is the parent company of Answers.com, which provides information for consumers, brands and organizations. Answers.com bought Easy2 Technologies Inc., which provides creative services and merchandising technology, in September 2013. Before that, the company picked up Reseller Ratings, a website that allows consumer reviews for retailers, and Web Collage. Terms of the deal were not disclosed.
Members of Answers' senior management will invest alongside Apax's funds. Apax, headquartered in New York, is a private equity firm that has more than $40 billion in capital under management. The firm also owns retailer Rue21, which it bought in October 2013, and Rhiag-Inter Auto Parts Italia SpA, an auto parts maker the firm also picked up in October.
Private equity firms TA Associates, headquartered in Boston, invested in Answers in April 2012, and Summit Partners invested in 2007.
TA has raiased about $18 billion in capital. In January, the firm bought a stake in Towne Park, a parking management company. Summit Partners, a Boston-based private equity firm has more than $16 billion in capital. In May, the firm agreed to buy Mdvip from Proctor & Gamble Co. (NYSE: PG).