Ancestry CEO to Step Down; Blackstone Completes Acquisition of Ancestry for $4.7 Billion #announcements #records


Jan Meisels Allen
 

 

Ancestry’s President and CEO Margo Georgiadis announced December 4 that she has informed the board of directors that she will depart the company at the end of the year.

 

Ancestry’s Board of Directors has commenced an external search for a new CEO and expects to announce a new CEO in early 2021.

 

To read the press release see:

https://www.ancestry.com/corporate/blog/ancestry-president-ceo-margo-georgiadis-step-down-end-2020

 

Blackstone announced on December 4 that private equity funds managed by Blackstone completed their previously announced acquisition of Ancestry® from Silver Lake, GIC, Spectrum Equity, Permira, and other equity holders for a total enterprise value of $4.7 billion. Current Ancestry investor GIC will continue to retain a significant minority stake in the company.

 

David Kestenbaum, a Senior Managing Director at Blackstone, and Sachin Bavishi, a Managing Director at Blackstone, said: “We are very excited about Ancestry’s future, as the company continues to demonstrate strong growth as the industry leader. We look forward to partnering with Ancestry in the years ahead to help the company further expand its product offerings and drive ongoing technology innovation so that an even greater number of families can discover more about their histories and themselves.”


To read their press release see:

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

 

Jan Meisels Allen

Chairperson, IAJGS Public Records Access Monitoring Committee