NEWS FLASH: It has been an open secret for a long time that The Generations Network (parent company of Ancestry.com, MyFamily.com and other sites) has been looking for a buyer. Now a deal has been struck.
Spectrum Equity Investors has led a $300 million investment to acquire a majority interest in Provo, Utah-based The Generations Network according to "an inside source" who declines to be named. The sale reportedly is for a major stake in the company but not 100% ownership. Employees and possibly some outside shareholders still have equity in the entity, which is almost certainly preparing for an IPO or other larger liquidity event.
Details may be found at http://www.techcrunch.com/2007/10/16/private-buyout-of-ancestrycom-for-300-million.
The Spectrum Equity Investors' web site already shows The Generations Network as one of the companies in its portfolio at http://www.spectrumequity.com/portfolio.