It was announced today that private equity funds managed by Blackstone have reached a definitive agreement to acquire Ancestry, an online genealogy company. Blackstone is acquiring the company from Silver Lake, GIC, Spectrum Equity, Permira, and other equity holders.
The value of the deal is $4.7 billion. It will be funded through its record-breaking eighth flagship private equity fund.
Current Ancestry investor GIC will also continue to retain a significant minority stake in the company.
David Kestnbaum, a Senior Managing Director at Blackstone said, “We are very excited to partner with Ancestry and its management team. We believe Ancestry has a significant runway for further growth as people of all ages and backgrounds become increasingly interested in learning mor…