Genealogy company Ancestry.com sold to Private Equity group for £1bn

Ancestry.com sold for £1bn to Private Equity Group

It has been revealed today the Ancestry.com, the world’s biggest family history website has been bought for £1bn in a private equity backed deal that will make multimillionaires of two of its bosses. The buyout was led by Private Equity Firm Permira at a 41% premium on its share price.

Earlier this year Ancestry purchased Archives.com for $100m.

Despite assurances from current CEO and from Permira over future investment it is still not clear how this will affect genealogists and researchers going forward.

More on the story can be found on the business page of the Guardian newspaper.