Posted 05/21/2015 at 8:42 AM
Posted 2 years ago
Permira Advisers, owners of the genealogy site, have contracted investment banks to begin the process of holding an auction.
The move is striking in that Ancestry.com, based in Provo, Utah, has seen its fortunes on the upswing since being being acquired by Permira for $1.6 billion in 2012.
The European equity firm took the company private, and saw subscription revenue rise to over 500 million dollars in that three year period.
The news came from confidential sources, and both Ancestry.com and Permira representatives declined to make any statement regarding the situation.