Wednesday, October 24, 2012
Ancestry.com Announcing Being Sold
ANCESTRY.COM TO BE ACQUIRED BY PERMIRA FUNDS
PROVO, Utah, October 22, 2012 –Ancestry.com (Nasdaq:ACOM), the global leader in online family history, and Permira, the European private equity firm with global reach, today announced that a company owned by the Permira funds and co-investors has entered into a definitive merger agreement to acquire Ancestry.com for $32.00 per share in cash in a transaction valued at $1.6 billion. 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.
[Part of the press release by Ancestry.com... read more about this story on Eastman's EOGN.]