December 5, 2020

Databases: Ancestry.com Sold to Private European Equity Firm For $1.6 Billion

From VentureBeat:

European private-equity firm Permira is buying genealogy website Ancestry.com for $1.6 billion, according to the Wall Street Journal.

Citing anonymous sources, the Journal said that the new buyers want to expand the company’s subscriber base in western Europe and make technological improvements to the site. The larger goal is to make family history into more than a niche market by adding deeper archives and data for a wider international audience.

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Publicly traded Ancestry.com has more than two million subscribers who pay at least $12.95 a month for its content and online tools. The purchase price is $32 a share and it includes vesting of outstanding options. The price is a 40 percent premium from the price when word of the company being offered for sale surfaced in June.

Read the Complete Article

See Also: Official Announcement and Details

Ancestry.com and Permira indicated that the company will continue executing on its growth strategy and initiatives led by content acquisition and technology investment, with the support of the Permira funds and the investor group. There are no anticipated changes in Ancestry.com’s operating structure. Ancestry.com’s focus will continue to be on investing in content, technology and its user experience, expanding its product offerings in areas like DNA, and building the Ancestry.com brand and the family history category, all on a global basis. Ancestry.com will remain headquartered in Provo, Utah, with a continued large presence in San Francisco, Dublin, London and other international markets.

About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.

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