Private equity buys big piece of Nextag

A reader says the employees have received the paperwork, and the deal is done.

Having snapped up whatever there was to buy in the brick and mortar world, the private equity investors are now turning their attention to technology sector. Cadance has been linked with big private equity money. Add comparison-shopping engine Nextag to the list.

Some private equity investors, one of them rumored to be Providence Equity Partners, are looking to buy 66% of Nextag for between $1 and $1.2 billion. Of course these are all rumors for now, and while contacted Nextag, we are yet to hear back from their press relations department.

Nextag is said to be doing about $200 million in revenues, with a lucrative mortgage and other lead generation business being the rocket that is driving the company. Internet giants for example – have taken out its peers – MySimon, PriceGrabber, and Shopzilla. Comparison Engines has a great overview of the market so far and news about this deal.