Tuesday, October 23, 2012

Wow! I Knew Ancestry.com was Valuable, but ...

Ancestry.com has annouced that it has arranged a sale to take it private. The genealogical database provider has been listed on NASDAQ for several years (Nasdaq:ACOM), and now the major stockholders believe that they can enhance their holdings by taking it private.

Yesterday, Ancestry.com and Permira, a European private equity firm with global reach, announced that a company owned by the Permira funds plus co-investors have entered into a definitive merger agreement to acquire Ancestry.com for $32.00 per share in cash. The total value of the transaction: $1.6 billion.

The good news is (I think) that Tim Sullivan, Ancestry.com’s President and Chief Executive Officer, and Howard Hochhauser, Ancestry.com’s Chief Financial Officer and Chief Operating Officer, will maintain a majority of their equity stakes in the company as part of the transaction. Spectrum Equity will also remain an investor in the company.

The current thinking is that this move won't affect the way that subscribers are able to use what is claimed to be the world's largest provider of genealogical data online. We'll see.

If you would like to read the official annoucement, go to my other blog, NEOH Genealogy Blog at http://neohgen.blogspot.com/ to see the news release.

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