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News Breaks | | | | October 3, 2012 | | 08:05 EDT |  | ACOM | Ancestry.com acquires 1000memories Inc.
Ancestry.com Inc. (Nasdaq:ACOM), the world's largest online family history resource, announced today it has acquired 1000memories Inc., the San Francisco-based startup that has been focused on helping people digitize and share the estimated 1.7 trillion paper photos stored in their albums, attics, and shoeboxes. The 1000memories acquisition also brings with it the ShoeBox app that turns mobile phones into photo scanners providing an easy way to digitize, save, and share photos online or on-the-go. Terms of the transaction were not disclosed. Ancestry.com does not expect the acquisition to have a material impact on its financial guidance as issued in connection with its second quarter earnings release on July 25, 2012. It's expected that all 1000memories employees will join Ancestry.com effective immediately. | |
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