The Wall Street Journal is reporting that Ancestry.com Inc. will be acquired by an investor group led by European private-equity firm Permira for nearly $1.6 billion, or $32 per share. Reports added that the $1.6 billion value of the agreement accounts for vesting of outstanding options, with the $32.00 per share price representing a premium of around 40% from where the stock was trading in June.
The Journal reports the buyout is a bet that family-history research is more than a niche market and that the subscriber base can swell with technological innovations, deeper archives and a wider international audience. People familiar with the buyers' plans said that expansion in western Europe is a goal.
You can read more at http://goo.gl/XA5NI.
FOLLOW-UP: The above link points to the Wall Street Journal article. It worked for me and I am not a subscriber. However, some people are reporting that the Journal's web site displays a sign-in form to them. However, you can also go to Google and search there. The story is appearing on hundreds of web sites this morning as the word travels around. You can search by starting here: http://goo.gl/Jyhgb
FOLLOW-UP #2: Here is the press release issued later this morning by Ancestry.com: