Permira buys Ancestry.com for $1.6 bn

October 22, 2012
A senior citizen works on her laptop during a computer class. European private equity group Permira will take over the popular Nasdaq-listed genealogy website Ancestry.com for $1.6 billion in cash, Permira announced.

European private equity group Permira will take over the popular Nasdaq-listed genealogy website Ancestry.com for $1.6 billion in cash, Permira announced on Monday.

The European offered $32 a share for the site, the company said, nearly 10 percent above Friday's close and 41 percent over the company's share price at the beginning of June when it became public that it was seeking a buyer.

Permira labeled the transaction a "merger" between Ancestry and a company owned by Permira.

Ancestry.com, based in Provo, Utah, has a database of 10 billion genealogical records and two million subscribers, making it one of the most popular websites for people interested in researching their family trees.

Joining Permira in the takeover are Spectrum Equity, which owns 30 percent of Ancestry, and Ancestry's chief executive Tim Sullivan and chief financial officer Howard Hochhauser.

"The company will continue executing on its and initiatives led by content acquisition and , with the support of the Permira funds and the . There are no anticipated changes in Ancestry.com's operating structure," said Permira and Ancestry management in a statement.

Explore further: Ancestry.com acquiring Archives.com for $100M

Related Stories

Ancestry.com acquiring Archives.com for $100M

April 26, 2012

(AP) -- Ancestry.com Inc. will acquire rival family history website Archives.com for about $100 million in cash and assumed liabilities, the companies announced Wednesday.

Ancestry.com hopes to raise $100 million in IPO

November 4, 2009

(AP) -- Genealogy Web site Ancestry.com hopes to raise about $100 million when it goes public this week. With more than a million paying subscribers, little competition, a small debt load and a record of increasing revenues, ...

European ancestry increases breast cancer risk among Latinas

December 1, 2008

Latina women have a lower risk of breast cancer than European or African-American women generally, but those with higher European ancestry could be at increased risk, according to data published in the December 1 issue of ...

Denmark's TDC deal rattles markets

January 9, 2006

Europe's telecommunications market may become increasingly cut-throat, but competition means that smaller carriers too can hold out and not take up any investment offer that comes their way. Or at least that appears to be ...

Recommended for you

Samsung to disable Note 7 phones in recall effort

December 9, 2016

Samsung announced Friday it would disable its Galaxy Note 7 smartphones in the US market to force remaining owners to stop using the devices, which were recalled for safety reasons.

Swiss unveil stratospheric solar plane

December 7, 2016

Just months after two Swiss pilots completed a historic round-the-world trip in a Sun-powered plane, another Swiss adventurer on Wednesday unveiled a solar plane aimed at reaching the stratosphere.

Solar panels repay their energy 'debt': study

December 6, 2016

The climate-friendly electricity generated by solar panels in the past 40 years has all but cancelled out the polluting energy used to produce them, a study said Tuesday.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.