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Private Europe firm to purchase Ancestry.com for US$1.6 billion

PROVO, Utah--Genealogy website Ancestry.com has agreed to be acquired by a group led by European private equity firm Permira Funds in a cash deal valued at about US$1.6 billion.

The offered price of US$32 per share is a nearly 10 percent premium over Friday's closing price of US$29.18. Company shares jumped nearly 8 percent, or US$2.31, to US$31.49 Monday in premarket trading.

Ancestry.com operates a website for researching family history and has more than 2 million paying subscribers. It says more than 10 billion records have been added to its site over the past 15 years.

Ancestry.com said there will be no anticipated changes in its operating structure with this deal.

The Utah-based company expects the deal to close early next year.

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