Investment firm buys Utah’s for $4.7 billion

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LEHI — A major investment firm has bought the Lehi-based family history services company for $4.7 billion.

Blackstone announced Wednesday that it reached an agreement to acquire Ancestry from Silver Lake Partners, GIC, Spectrum Equity, Permira and other equity holders. GIC will continue to retain a significant minority stake in the company.

“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,” Margo Georgiadis, Ancestry president and CEO, said in a statement.

Ancestry, a worldwide provider of online family history and personal DNA testing, operates in at least 30 countries with more than 3 million paying subscribers and annual revenue exceeding $1 billion.

Continue Reading on Deseret News


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