Ancestry.com to be bought by a Private Equity Firm for $1.6B
Genealogy website Ancestry.com has agreed to be acquired by a group led by European private equity firm Permira Funds in a cash deal valued at about $1.6 billion.
The offered price of $32 per share is a nearly 10 percent premium over Friday's closing price of $29.18. Its shares jumped 8 percent, or $2.37, to $31.55 in premarket trading Monday.
Ancestry.com operates a website for researching family history and has more than 2 million paying subscribers. It says more than 10 billion records have been added to its site over the past 15 years.
.......from a news release from Ancestry.com
"Ancestry.com said there will be no anticipated changes in its operating structure with the deal. The company will remain based in Provo, Utah, and it will continue to focus on investing in content, technology and expanding product offerings in areas like DNA."
What do you think about this? Will it have an impact (good or bad) on the genealogical community?
More from MSN News/ Associated Press
......... posted by Sandra Gardner-Benward