Ancestry .com to be sold to Permira for $1.6 billion
It is reported that Ancestry.com is to be sold to Permira, a European private equity firm. Ancestry.com has more than 2 million paying subscribers who can access more than 10 billion records
Ancestry.com and Permira have stated that the 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".
The company headquarters will remain in Provo, Utah with a continued presence in London, Dublin and San Francisco.
Under the terms of the agreement, Ancestry.com shareholders will receive $32 for each share they own. There are reports that the Board of Directors of Ancestry.com are being investigated for possible breaches of fiduciary duty.
30 October 2012