GIC, Silver Lake Close Strategic Investment in Ancestry, Valued at $2.6 Billion

This business transaction has been in progress for some time. See https://duckduckgo.com/?q=site%3Aeogn.com+%22Silver+Lake%22&ia=web for my earlier articles about this. Now the transition is complete, according to published reports. Silver Lake Partners and GIC have completed their transaction to acquire substantial equity stakes in Ancestry.com LLC at an enterprise value of approximately $2.6 billion.

The announcement states:

“Claiming to be the largest for-profit genealogy company worldwide, Ancestry LLC operates a network of historical record websites focused on the US and nine foreign countries, with Canada and Australia being major markets, alongside a presence in several European states.

“Following the transaction, Silver Lake and GIC will each hold equal minority ownership positions in Ancestry. The Permira funds, Spectrum Equity and Ancestry management, including President and CEO Tim Sullivan and CFO/COO Howard Hochhauser remain as meaningful equity investors. Along with GIC, they continue to own a majority stake in Ancestry. In addition, Ancestry has closed the previously disclosed employee tender offer.”

To date, Ancestry claims to have more than 2.3 million paying subscribers across its core Ancestry websites and more than 1.5 million DNA samples in the AncestryDNA database.

You can read more at: http://www.dealstreetasia.com/stories/41883-41883.

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