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News Breaks | | | | October 22, 2012 | | 06:42 EDT |  | ACOM | Ancestry.com confirms it will be acquired by Permira for $1.6B
Ancestry.com and Permira, the European private equity firm with global reach, 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 $1.6B. Tim Sullivan, Ancestry.com's President and CEO, and Howard Hochhauser, Ancestry.com's CFO and COO, 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. The disinterested members of Ancestry.com's board have unanimously approved the transaction and recommend that Ancestry.com stockholders approve the merger. Affiliates of Spectrum Equity, which together own approximately 30% of the company's outstanding shares, have agreed to vote their shares in favor of the merger. | |
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