8/5, 2:21 PM (Source: TeleTrader)
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Blackstone buying Ancestry for $4.7B

The Blackstone Group Inc. announced on Wednesday it reached an agreement to acquire genealogy company LLC for $4.7 billion.

"Looking ahead, in collaboration with Blackstone, we will continue to leverage our unique content, powerhouse consumer brand and technology platform to expand our global Family History business while bringing to life our long-term vision of personalized preventive health," Ancestry chief executive Margo Georgiadis said in the press release.

Ancestry currently has more than 3 million paying subscribers and more than $1 billion in annual revenue, the press release stated. Among its services, it operates a "consumer genomics business, which informs consumers about their heritage and key health characteristics."

Breaking the News / MD