|By Business Wire||
|February 14, 2014 01:55 PM EST||
Permira, the European private equity firm with global reach, and LegalZoom.com, Inc. (“LegalZoom” or the “Company”), the nation's leading provider of online legal solutions for small businesses and families, today announced the successful completion of the acquisition of more than $200 million of the outstanding equity of LegalZoom by a company backed by the Permira funds. The Permira funds are now LegalZoom’s largest shareholder and will appoint a majority of the Company’s Board of Directors.
LegalZoom’s management team and Institutional Venture Partners have maintained the vast majority of their ownership stakes in the Company, while Kleiner Perkins Caufield & Byers has maintained its entire stake. Polaris Venture Partners maintained a portion of its ownership in the Company.
Permira is a European private equity firm with global reach. The Permira funds, raised from pension funds and other institutions, make long-term investments in companies with the ambition of transforming their performance and driving sustainable growth. Founded in 1985, the firm advises funds with a total committed capital of close to $30 billion.
Permira established itself in North America in 2002 and today has offices in New York and Menlo Park. The Permira funds have a long track record of successfully investing in technology and digital media companies around the world including Ancestry.com, Odigeo, NDS, Renaissance Learning and Genesys. Since 1997, over 30% of the Permira funds' investments have been in the core sector of Technology, Media & Telecom.
About LegalZoom.com, Inc.
LegalZoom is the nation's leading provider of personalized, affordable online legal solutions for families and small businesses. Founded more than 12 years ago by attorneys with experience at some of the top law firms in the country, LegalZoom has helped over two million Americans become protected with binding legal documents. Although LegalZoom is not a law firm, it can help people access an attorney through its legal plans. The company has offices in Austin, Glendale, and Mountain View. For more information, visit www.legalzoom.com.