MyHeritage To be Acquired by Francisco Partners #dna #announcements
Jan Meisels Allen
Recently there have been a spate of acquisitions announced in the genealogy and DNA world ...today is no different. Techcrunch.com reported that MyHeritage.com is being acquired by Francisco Partners for close to $600 million. According to the TechCrunch report, “A spokesperson for MyHeritage confirmed the deal to TechCrunch over the phone but not the price.” https://techcrunch.com/2021/02/24/francisco-partners-is-acquiring-myheritage-sources-say-for-600m/
The press release from Francisco Partners may be read at:
https://www.franciscopartners.com/news/myheritage-to-be-acquired-by-leading-private-equity-firm-francisco-partners It says, “that Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, has signed a definitive agreement to acquire the company.”
The press release does not mention price.
Gilad Japhet, the founder and CEO of MyHeritage said in part, “This move will enable us to reach new heights, invest more resources in creating greater value for our users and to reach a larger audience. We’re incredibly excited for this next chapter in our company’s evolution.” “By leveraging our operational expertise, market resources and strong industry networks, we believe Francisco Partners is uniquely positioned to help MyHeritage accelerate its vision for growth.
Some of the company's current investors will be re-investing into the company alongside Francisco Partners, including HP Beteiligungs GmbH, Yuval Rakavy, the company's founder and CEO Gilad Japhet, and independent investor Gigi Levy.
I have no affiliation with MyHeritage or Francisco Partners and am reporting this solely for the interest of the reader.
Jan Meisels Allen
Chairperson, IAJGS Public Records Access Monitoring Committee