If I read this correctly, and I don’t believe it is an April Fool’s joke since a SEC 8-K filing was involved, a major stake in Ancestry.com has just been sold for $2.6 billion USD to Silver Lake and GIC who were already equity investors. See Ancestry.com’s press release Silver Lake and GIC Announce Strategic Investments in Ancestry by clicking here.
” Ancestry.com LLC, the leading provider of online family history data and personal DNA testing, today announced that Silver Lake and GIC, a current investor in Ancestry, have signed a definitive agreement to acquire substantial equity stakes in the company from existing equity holders at an enterprise value of approximately $2.6 billion. Following the transaction, Silver Lake and GIC will hold equal minority ownership positions in Ancestry, while other current investors – the Permira funds, Spectrum Equity and Ancestry management, including President and Chief Executive Officer Tim Sullivan and Chief Financial and Chief Operating Officer Howard Hochhauser – will remain as meaningful equity investors in the company and, along with GIC, will continue to own a majority of the company.”
Click here for access to the SEC 8-K filing.
So what does this all mean? I’m still trying to get confirmation from my contacts at Ancestry.com. But it appears there is a deal that will close by the end of Q2 2016 with the election of board of director leadership:
“The transaction is subject to customary regulatory approvals and is expected to close in the second calendar quarter of 2016. Subsequent to closing, pre-transaction investors in Ancestry will own a majority of the voting capital stock of the company and will designate the majority of the company’s board of directors.”
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