European private equity firm Permira has already purchased the online genealogy site Ancestry.com at $1.6 billion ($32.00 per share). Meanwhile, Ancestry.com President and CEO Tim Sullivan and CFO and COO Howard Hochhauser will maintain a majority of their equity stakes in the company, and Spectrum Equity will also remain an investor.
Image Credit: ancestry.com
According to Sullivan, that is a successful outcome for their public stockholders, and a great day for Ancestry.com employees and subscribers around the world. He expressed excitement and appreciation that Permira shares their commitment to invest in technology and product experience to make family history easy and accessible for more and more families around the world. Sullivan commended Permira for its strong investment track record in the technology and Internet sectors, making them a very good advisor and partner as Ancestry.com moves forward.
On the other hand, Brian Ruder, Partner and Head of Permira’s Menlo Park office also commended Ancestry.com for its pioneering technology and market leading position. According to Ruder, Ancestry.com is worth investing in, as it continues to develop new and innovative content and expand in both its core markets and into new geographies. He also expressed Permira’s full support to Ancestry.com for the realization of its mission to help people discover, preserve and share their family history.
Ancestry.com has over 10 billion digitized, indexed records and over 2 million subscribers.
Tags: Ancestry Sale, Ancestry.com, Ancestry.com Sale, Brian Ruder, European Permira, Howard Hochhauser, Permira’s Menlo Park, Tim Sullivan