Ancestry.com said it does not expect to change its course of business following its acquisition by European private equity firm Permira.
The genealogy website said Monday that it had agreed to be acquired by Permira for $1.6 billion, or $32 per share.
Brainerd Communicators supported Ancestry.com on the acquisition announcement, said Heather Erickson, Ancestry.com spokesperson. Meanwhile, Sard Verbinnen & Co. advised Permira on communications for its side of the deal. Both firms have standing relationships with the respective companies.
Following the acquisition, Ancestry.com's focus will continue to be on “investing in content, technology, and its user experience,” as well as expanding its DNA product offering and building the brand globally, the company said in a statement.
The deal comes three years after Ancestry.com went public, raising $100 million in an initial public offering. Since reaching a $45 stock price in 2011, the company has faced challenges, with shares falling to about $29. Ancestry.com grew its subscriber base when it launched the TV show Who Do You Think You Are? on NBC in 2010, but earlier this year the network declined to renew the show's contract.
Ancestry.com acquired family history website Archives.com for $100 million in August. Earlier this month, the company purchased photo sharing startup 1000memories for an undisclosed amount.
The website has more than 2 million subscribers, predominantly in the US, who pay between $12.95 and $34.95 a month for the service.