Blackstone to Buy Ancestry.com for $4.7 Billion
August 05 2020 - 11:34AM
Dow Jones News
By Dave Sebastian
Blackstone Group Inc. said Wednesday it has agreed to buy the
genealogy site Ancestry.com for an enterprise value of $4.7
billion.
Current Ancestry investor GIC would retain a minority stake in
the company, Blackstone said. Blackstone is also buying the stakes
of Silver Lake, Spectrum Equity and Permira.
Ancestry operates in more than 30 countries and has more than
three million paying subscribers, generating more than $1 billion
in annual revenue.
The transaction is Blackstone's first control acquisition for
its eight vintage of its flagship private-equity vehicle, it
said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
August 05, 2020 11:19 ET (15:19 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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