VSS buys career info site(2)

Veronis Suhler Stevenson has paid between $60 million and $85 million to acquire online career information company Vault.com.

Veronis Suhler Stevenson is to acquire a majority stake in career information marketing company Vault.com, which a well-placed source values at between $60 million (€42 million) and $85 million.

The media- and communications-focussed firm made the investment from its $1.3 billion fund, VSS Communication Partners IV, along with former MSNBC president Erik Sorenson and Ledgemont Capital. Sorenson will become chief executive officer of Vault.

Trent Hickman

VSS managing director Trent Hickman said in a statement that Vault will serve as a platform investment, and VSS will pursue a “buy-and-build strategy” to increase Vault's products and services, which include college admissions materials.

Several other private equity firms have recently invested in the admissions prep space. In May, Apax Partners paid $8 billion for The Thomson Corporation's higher education division, and in July, Bain Capital Ventures and Prides Capital agreed to invest $60 million in The Princeton Review.