to be sold

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anonymous (not verified)

From Federation of Family History Societies:- the global leader in Online Family History, the World's Largest Depository of Online Family History Data is to be sold for $1.6 billion

It is reported that is to be sold to Permira a European private equity firm. has more than 2 million paying subscribers who can access more than 10 billion records and Permira have stated that the focus will continue to be on "investing in content, technology and its user experience, expanding its product offerings in areas like DNA and building the brand and the family history category, all on a global basis".

The company headquarters will remain in Provo, Utah with a continued presence in London, Dublin and San Francisco.

Under the terms of the agreement, shareholders will receive $32 for each share they own. There are reports that the Board of Directors of are being investigated for possible breaches of fiduciary duty.