Blackstone Group Inc said on Wednesday it agreed to acquire genealogy provider Ancestry.com Inc from private equity rivals for $4.7 billion, including debt, placing a big bet on family-tree chasing as well as personalized medicine.
Ancestry.com is the world’s largest provider of DNA services, allowing customers to trace their genealogy and identify genetic health risks with tests sent to their home.
Blackstone is hoping that more consumers staying at home amid the COVID-19 pandemic will turn to Ancestry.com for its services.
The acquisition’s price tag represents a significant jump to Ancestry.com‘s valuation from four years ago, when Silver Lake and GIC invested in the Lehi, Utah-based company at a $2.6 billion valuation.
Continue Reading on WKZO