Add-on Acquisition • Internet Software and Services

Red Ventures Acquires Healthline Networks

On July 16, 2019, Red Ventures acquired internet software and services company Healthline Networks from Summit Partners

Acquisition Context
  • This is Red Ventures’ 4th transaction in the Internet Software and Services sector.
  • This is Red Ventures’ 6th transaction in the United States.
  • This is Red Ventures’ 1st transaction in California.

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M&A Deal Summary

Date July 16, 2019
Target Healthline Networks
Sector Internet Software and Services
Buyer(s) Red Ventures
Sellers(s) Summit Partners
Deal Type Add-on Acquisition

Target Company

Healthline Networks

San Francisco, California, United States
Healthline Networks, Inc. is one of the fastest-growing consumer health information sites, Healthline.com advances Healthline's mission is to be users' most trusted ally in their pursuit of health and well-being. Healthline provides socially inspired, medically reviewed and data-driven content to help us all live stronger, healthier lives.
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Buyer Overview 1

Buyer

Red Ventures

Fort Mill, South Carolina, United States

Category Company
Founded 2000
Sector Marketing
Employees950
DESCRIPTION

Red Ventures operates a portfolio of influential brands, digital platforms, and strategic partnerships that work together to connect millions of people with expert advice. Red Ventures was founded in 2000 and is based in Fort Mill, South Carolina.


Deal Context for Buyer #
Overall 7 of 10
Sector: Internet Software and Services 4 of 5
Type: Add-on Acquisition 5 of 5
State: California 1 of 2
Country: United States 6 of 9
Year: 2019 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-12 HigherEducation.com

Houston, Texas, United States

HigherEducation.com is an online education company, powering the marketplace of high-intent prospective students in the US. H-E leverages proprietary data, algorithms, and technology to provide over 150 university partners with unparalleled, cost-effective access to successful students at every step of the student journey. HigherEducation.com was founded in 2007 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-14 CNet Networks

San Francisco, California, United States

CNet is a portfolio of brands that reach close to 100 million unique visitors monthly, advising passionate consumers about everything they love. Its portfolio reaches diverse global audiences in technology, B2B, gaming, and entertainment. These iconic properties include the world’s largest tech media brand CNET, as well as GameSpot, ZDNet, Metacritic, TVGuide.com, Chowhound, and more. CNet was formed in 1994 and is based in San Francisco, California.

Buy $500M

Seller Profile 1

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


Deal Context for Seller #
Overall 239 of 298
Sector: Internet Software and Services 17 of 31
Type: Add-on Acquisition 107 of 134
State: California 54 of 64
Country: United States 213 of 258
Year: 2019 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-11 United Sporting Companies

Chapin, South Carolina, United States

United Sporting Companies is a nationwide distributor of hunting, outdoor, marine and tackle products. The Company operates through two subsidiaries, Ellett Brothers and Jerry’s Sport Center which were founded in 1933 and 1949, respectively.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-22 Reverb.com

Chicago, Illinois, United States

Reverb.com LLC is an online marketplace dedicated to buying and selling new, used, and vintage musical instruments. Reverb.com LLC was founded in 2013 and is based in Chicago, Illinois.

Sell $275M