06 August 2020
Global investment firm Blackstone has acquired Ancestry from Silver Lake, GIC, Spectrum Equity, Permira, and other equity holders in a deal worth $4.7 billion.
With over 24 billion records and over 18 million people in its DNA network, Ancestry is a global leader in family history and the genealogy world will no doubt watch with interest to see how the partnership develops.
According to Genome Web, Ancestry’s current investor GIC will retain a ‘minority stake’ in the deal and no timeline for the handover has been announced at the time of writing (6 August).
Potential for growth
David Kestnbaum, a Senior Managing Director at Blackstone, said: “We are very excited to partner with Ancestry and its management team. We believe Ancestry has significant runway for further growth as people of all ages and backgrounds become increasingly interested in learning more about their family histories and themselves. We look forward to investing behind further data, functionality, and product development across Ancestry’s market leading platform to continue to provide a differentiated service.
Margo Georgiadis, President and Chief Executive Officer of Ancestry, said: “Our entire leadership team is thrilled to have the opportunity to partner with Blackstone to further accelerate Ancestry’s global leadership in family history and consumer genomics, and to help us achieve our mission to empower journeys of personal discovery to enrich lives. Looking ahead, in collaboration with Blackstone, we will continue to leverage our unique content, powerhouse consumer brand and technology platform to expand our global Family History business while bringing to life our long-term vision of personalized preventive health.”