Ancestry.com Inc. Completes Acquisition of Sweden's Genline.se
July 15 2010 - 4:00PM
Ancestry.com Inc. (Nasdaq:ACOM) today announced the closing of its
acquisition of Genline.se, the leading Swedish family history Web
site.
Genline currently has more than 17,000 paying members with
access to 26 million pages of digitized Swedish church records
spanning more than 400 years from the 17th to the 20th century.
On July 15, 2010, the offer from Ancestry.com was approved by
Genline Holding AB's public shareholders. Following the approval,
Ancestry.com acquired all shares of Genline AB for approximately 53
million Swedish kronor in cash with an adjustment for net working
capital. Based on a July 15, 2010 exchange rate of SEK 7.39 to
US $1.00, the net purchase amount approximates US $7.2 million.
Brett Bouchard, Managing Director Europe for Ancestry.com Inc.,
comments: "The combination of the Ancestry.com family of
websites and Genline.se will benefit users of all Ancestry sites by
offering access to a greater amount of important historical content
and broadening the active member community vital to researching
family history. We are excited to welcome the employees and members
of Genline into the Ancestry.com family."
About Ancestry.com
Ancestry.com Inc. (Nasdaq:ACOM) is the world's largest online
family history resource, with more than one million paying
subscribers. More than 5 billion records have been added to the
site in the past 13 years. Ancestry users have created more than 17
million family trees containing over 1.7 billion profiles.
Ancestry.com has local Web sites directed at nine countries,
including its flagship Web site at www.ancestry.com.
About Genline.se
Genline AB is the Swedish market leader in genealogy and local
heritage research. Its collection of Swedish church records
contains more than 26 million digitalized pages of records dating
from the 1600's to the 1900s.
Genline also operates Familjeband.se, a web-based genealogy
software and community for people interested in family, genealogy
and local heritage, and Bygdeband, a social networking archive that
enables local heritage societies to digitize their
archives.
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Factors that could materially affect actual results, levels of
activity, performance or achievements, and our ability to execute
on our business strategy include those listed under the caption
"Risk Factors" of the Ancestry.com Annual Report on Form 10-K for
the year ended December 31, 2009.
We assume no obligation to publicly update or revise these
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CONTACT: Brainerd Communicators, Inc.
Investors:
Corey Kinger
(212) 986-6667
investorrelations@ancestry.com
Media:
Ray Yeung
yeung@braincomm.com
Jo Anne Barrameda
barrameda@braincomm.com
(212) 986-6667
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