Blackstone takes over Ancestry.com for almost 5bn USD
With the transaction the world famous fund acquires one of the largest DNA databases in the world.

Blackstone Group (NYSE: BX) Inc BX.N said Wednesday it agreed to acquire genealogy provider Ancestry.com Inc for $ 4.7 billion, including debt, from private equity rivals, with it Make a big bet on the family tree hunt as well as personalized medicine. Ancestry.com is the world's largest provider of DNA services that enable customers to trace their genealogy and identify genetic health risks through tests sent to their homes. Blackstone hopes more consumers staying home amid the COVID-19 pandemic will turn to Ancestry.com for its services. "We believe Ancestry has a significant runway for continued growth as people of all ages and backgrounds become increasingly interested in learning more about their family history and themselves," said David Kestnbaum, a managing director of Blackstone, in a statement. The deal marks Blackstone's first acquisition of Blackstone Capital Partners VIII, the largest private equity fund to date, which raised $ 26 billion from investors last year. Ancestry.com has more than 3 million paying customers in approximately 30 countries and annual sales of more than $ 1 billion. Launched in 1996 as a family history website, the website took advantage of advances in DNA testing and mobile phone applications to expand its offering over the next two decades. Blackstone is buying Ancestry.com from private equity firms Silver Lake, Spectrum Equity and Permira. Singapore's sovereign wealth fund GIC, another Ancestry.com investor, said it would continue to hold a significant minority stake in the company. The acquisition price tag represents a significant leap in Ancestry.com's valuation from four years ago when Silver Lake and GIC invested $ 2.6 billion in the Lehi, Utah-based company.





