Popular genealogy web site Ancestry.com has been known to be looking for a buyer for some time. This morning, the company announced that it has sold 75% interest in the company for $4.7 billion (U.S.)
From an announcement published in this morning’s Bloomberg financial website:
“Blackstone Group Inc. is set to buy a majority stake in Ancestry.com Inc., the business known for family history research and DNA testing.
“The deal, valued at $4.7 billion including debt, will be the first acquisition by Blackstone’s largest ever private equity fund, according to people familiar with the matter. Silver Lake and Singaporean sovereign-wealth fund GIC Pte have been the majority owners since 2016. After the deal closes, Blackstone will own about 75% and GIC will still hold about 25% of Ancestry.com, said the people, who asked not to be identified because the information is private.
“Representatives for Blackstone and Ancestry.com declined to comment.”
Blackstone will take about 75% ownership stake in Utah-based company
You can read the full announcement at https://bloom.bg/3gvGUxR.