fbpx
Big Law

Blackstone Acquires Ancestry.com for $4.7B

(Reuters) – Blackstone Group Inc <BX.N> said on Wednesday it agreed to acquire genealogy provider Ancestry.com Inc from private equity rivals for $4.7 billion, including debt, placing a big bet on family-tree chasing as well as personalized medicine.

Ancestry.com is the world’s largest provider of DNA services, allowing customers to trace their genealogy and identify genetic health risks with tests sent to their home. Blackstone is hoping that more consumers staying at home amid the COVID-19 pandemic will turn to Ancestry.com for its services.

“We believe Ancestry has significant runway for further growth as people of all ages and backgrounds become increasingly interested in learning more about their family histories and themselves,” David Kestnbaum, a Blackstone senior managing director, said in a statement.

Read the source article at Personal Finance News

    Leave a Review or Comment

    Your email address will not be published. Required fields are marked *

    Back to top button
    Close
    Close