Ancestry.com announces new venture with tech investor
PROVO, Utah — Ancestry.com, a Utah-based family history and consumer genomics company worth an estimated $2.6 billion, announced two new investments that company leaders say signals further worldwide interest in family history, Deseret News reported.
Silver Lake, a private equity technology investor, and GIC, a current investor for Ancestry based in Singapore, both signed definitive agreements to acquire “substantial” equity stakes in the family history company, according to an Ancestry news release.
Details of the acquisition weren’t released, but Silver Lake is now an equal minority investor with GIC, which has been with the company for more than three years, according to Ancestry President and CEO Tim Sullivan.
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“To attract the world’s leading technology investor to make such a significant commitment to our business and our category is just a terrific validation of our belief that family history is going to continue to grow,” Sullivan said.
Source: Deseret News