Blackstone To Acquire Ancestry For Enterprise Value Of $4.7 Bln – Quick Facts

Blackstone Group, Inc. (BX) said Wednesday that private equity funds managed by the investment firm have agreed to acquire Ancestry from Silver Lake, GIC, Spectrum Equity, Permira, and other equityholders for a total enterprise value of $4.7 billion. Ancestry is an online family history business.

GIC, a current Ancestry investor, will continue to own a significant minority stake in the company.

Blackstone noted that committed debt financing for the transaction was provided by Bank of America and Credit Suisse.

Ancestry is a provider of digital family history services, operating in more than 30 countries with more than 3 million paying subscribers across its Ancestry online properties and more than $1 billion in annual revenue.

The company harnesses the information found in family trees and historical records to help people gain a new level of understanding about their lives.

In addition, Ancestry operates a consumer genomics business, which informs consumers about their heritage and key health characteristics.

“We look forward to investing behind further data, functionality, and product development across Ancestry’s market leading platform to continue to provide a differentiated service. Our investment is a prime example of Blackstone’s continued, high-conviction focus on investing in growing, digital consumer businesses, which are resilient in the current environment and beyond,” said David Kestnbaum, a Senior Managing Director at Blackstone.

Morgan Stanley & Co. LLC served as lead financial advisor to Ancestry, while Barclays served as its financial advisor. Latham & Watkins LLP is serving as legal advisor to Ancestry.

Simpson Thacher & Bartlett LLP is serving as legal advisor to Blackstone, while Dechert LLP is serving as legal advisor to GIC.

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