Ancestry to be Acquired by Blackstone Group for $4.7 Billion #announcements


Jan Meisels Allen
 

 

Blackstone Group, the world’s largest alternative asset manager has acquired a 75% stake in Ancestry.com for a deal valued at $4.7 billion.  Since 2016 Ancestry’s majority owners has been Singaporean wealth fund GIC Pte- they will retain 25% of Ancesty.com.

 

Silver Lake and GIC acquired their majority stake four years ago in a deal that valued the company at $2.6 billion. Prior owners, including management, Permira and Spectrum Equity, currently have a minority interest in the business.

 

Ancestry.com first went public in 2009, raising $100 million. It was taken private in 2012 in a $1.6 billion buyout led by private equity firm Permira, and on at least two occasions since has considered going public again, though it never got the valuation it was seeking.

 

Genomeweb.com described Ancestry: “In addition to operating in more than 30 countries, having 3 million subscribers, and $1 billion in annual revenue, Ancestry has also built a market-leading consumer genomics business through its AncestryDNA service, which focused initially on ancestry and genealogy and more recently expanded into health. The company has to date genotyped 18 million people as part of the service.”

 

Ancestry’s CEO Margo Georgiadis said, said the deal with Blackstone would "further accelerate Ancestry's global leadership in family history and consumer genomics." She added that the acquisition would enable the Lehi, Utah-based company to "expand our global family history business while bringing to life our long-term vision of personalized preventive health."

 

At the time of this posting there is nothing on the Ancestry website, but there is on Blackstone’s which can be read at:

https://www.blackstone.com/press-releases/article/blackstone-to-acquire-ancestry-leading-online-family-history-business-for-4-7-billion/

 

See: https://www.genomeweb.com/business-news/blackstone-acquire-ancestry-47b

https://www.bloomberg.com/news/articles/2020-08-05/blackstone-said-to-reach-4-7-billion-deal-to-buy-ancestry-com#

 

I have no relationship with Ancestry or Blackstone and am posting this solely for the information of the reader.

 

Jan Meisels Allen

Chairperson, IAJGS Public Records Access Monitoring Committee

 

 

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