The following announcement was written by Ancestry.com:
PROVO, Utah, Aug. 17, 2012 -- Ancestry.com Inc. (Nasdaq:ACOM) today announced the completion of its acquisition of Archives.com, a leading family history website, for approximately $100 million in cash and assumed liabilities.
"Archives.com is a great addition to the Ancestry.com family. It is a fast-growing business that has expanded the addressable family history market through a simple and affordable approach," said Tim Sullivan, President and Chief Executive Officer of Ancestry.com. "We are excited to increase our ability to help more individuals discover their family history."
Archives.com was owned and operated by Inflection LLC, a Silicon Valley-based technology company. Since Archives.com's launch in January 2010, the site has rapidly grown to more than 440,000 paying subscribers who pay approximately $39.95 a year. Archives.com offers access to over 2.2 billion historical records, including birth records, obituaries, immigration and passenger lists, historical newspapers, as well as U.S. and U.K. Censuses.
Ancestry.com plans to operate Archives.com separately, retaining its brand and website. Many Inflection employees, including key marketing, product and engineering executives, will join the Ancestry.com team.
Ancestry.com Inc. (Nasdaq:ACOM) is the world's largest online family history resource, with approximately 2 million paying subscribers. More than 10 billion records have been added to the site in the past 15 years. Ancestry users have created more than 38 million family trees containing more than 4 billion profiles. In addition to its flagship site www.ancestry.com, Ancestry.com offers several localized Web sites designed to empower people to discover, preserve and share their family history.
Archives.com is a leading family history website that makes discovering family history simple and affordable. Archives.com is free to try for seven days, allowing anyone to explore the benefits of membership without risk or obligation. For more information and to start discovering your family history, please visit http://www.archives.com/.
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