Have you been following the story about the sale of Ancestry.com? The last time I blogged about it, the genealogy website was said to have been in discussion with potential buyers. A few weeks ago, it seems that Ancestry.com asked for higher competing bids for a possible buyout.
Ancestry.com is one of the most popular genealogy websites. Even non-genealogists have heard the name, and might even identify the company with the American version of the “Who Do You Think You Are?” television series. Ancestry.com was a sponsor of that show.
In June of 2012, there was some speculation that Ancestry.com was going to put itself up for sale. In July of 2012, it became known that Ancestry.com hired Qatalyst Partners to run the process involved in finding a buyer. In general, companies do not hire a group to set up negotiations between itself and the companies who might be potential buyers unless they are serious about selling.
In late July of 2012, it was revealed that Qatalyst Partners was in discussions with a few different companies. The companies were TPG Capital LP, and Permira Advisers LLP, and Providence Equity Partners Inc.. At least, that was what was known at that time. They had until “early August” to give their final bids.
So, what happened from there? According to Bloomberg, Ancestry.com has asked potential buyers, (including Permira Advisers LLP and TPG Capital LP), to increase their competing bids. This was asked in late August of 2012.
It has been said that talks are still ongoing. It appears that Ancestry.com received a bid of $35.00 a share, (from an unnamed company), and turned it down. The anonymous sources that spoke with Bloomberg also noted that KKR & Co. and Providence Equity Partners Inc. did not submit bids because they felt that the price asked by Ancestry.com was too high.
What does this mean for genealogists who use Ancestry.com? My best guess is that things will remain pretty much the same at least until Ancestry.com finds a buyer. The only advice I have is for you to keep seeking out news about the potential sale of Ancestry.com, (assuming, of course, that a sale is still a possibility).
Image by 401(K)2012 on Flickr