Answers to be acquired in private equity deal

Answers acquired three companies in 2013 and was expected to be ready for an IPO by late 2014. | Photo by Michael Stacy
Answers acquired three companies in 2013 and will now be snapped up itself. | Michael Stacy/Missouri Business Alert

Apax Partners, a New York-based private equity firm, announced an agreement to acquire Answers Corp., the parent company of

St. Louis-based Answers operates its namesake question-and-answer site, which allows users to ask questions and receive answers online, as well as analytics and ecommerce platforms that work with businesses.

Terms of the deal were not disclosed in a release Monday. The acquisition is expected to close in the fourth quarter of 2014, and Answers will continue to be headquartered in St. Louis.

“Over recent years, we have strategically transformed Answers from a global pure play Internet media entity into a premier provider of customer lifecycle solutions for enterprises,” Answers CEO David Karandish said in a statement. “We now look forward to working with Apax to accelerate our ongoing evolution.”

After Answers’ $200 million acquisition of Michigan-based ForeSee, a customer satisfaction analytics firm, in December 2013, the company was expected to go public in late 2014.

“We have been very impressed with the Answers growth story and with the skills and sophistication of David Karandish and his team,” Apax co-CEO Mitch Truwit said in a statement. “We are excited to partner with them in achieving their future plans, as they continue to broaden their offering and further shape the online ecosystem.”

Answers, which went public in 2004, was previously acquired and taken private by St. Louis-based equity firm AFCV Holdings in 2011 for $127 million.

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