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Ancestry.com Goes to PE Firms for $1.6B

Ancestry.com said it will be acquired by a group led by Europe-based private equity firm Permira in a $1.6 billion deal. The company will be taken private for $32 per share, a 10 percent premium to the stock’s Friday closing price, Reuters reported. In addition to Permira, the buyout group includes the private equity firm’s co-investors, members of Ancestry.com’s management, including Chief Executive Tim Sullivan and Chief Financial Officer Howard Hochhauser, and Spectrum Equity, which owns about 30 percent of Ancestry.com.

(Reuters) – Ancestry.com (ACOM.O) said it will be acquired by a group led by Europe-based private equity firm Permira in a $1.6 billion deal.

The company will be taken private for $32 per share, a 10 percent premium to the stock’s Friday closing price.

In addition to Permira, the buyout group includes the private equity firm’s co-investors, members of Ancestry.com’s management, including Chief Executive Tim Sullivan and Chief Financial Officer Howard Hochhauser, and Spectrum Equity, which owns about 30 percent of Ancestry.com.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Sriraj Kalluvila)