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

A not-quite-random walk demystifies the algorithm

December 15, 2017

The algorithm is having a cultural moment. Originally a math and computer science term, algorithms are now used to account for everything from military drone strikes and financial market forecasts to Google search results.

US faces moment of truth on 'net neutrality'

December 14, 2017

The acrimonious battle over "net neutrality" in America comes to a head Thursday with a US agency set to vote to roll back rules enacted two years earlier aimed at preventing a "two-speed" internet.

FCC votes along party lines to end 'net neutrality' (Update)

December 14, 2017

The Federal Communications Commission repealed the Obama-era "net neutrality" rules Thursday, giving internet service providers like Verizon, Comcast and AT&T a free hand to slow or block websites and apps as they see fit ...

The wet road to fast and stable batteries

December 14, 2017

An international team of scientists—including several researchers from the U.S. Department of Energy's (DOE) Argonne National Laboratory—has discovered an anode battery material with superfast charging and stable operation ...

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.