Posted on 03/03/2023 10:21:13 AM PST by Golden Eagle
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.
The deal is Blackstone’s first acquisition out of Blackstone Capital Partners VIII, the largest-ever private equity fund that raised $26 billion from investors last year.
Ancestry.com has more than 3 million paying customers in about 30 countries, and earns more than $1 billion in annual revenue. Launched in 1996 as a family history website, it harnessed advances in DNA testing and mobile phone apps in the following two decades to expand its offerings.
(Excerpt) Read more at reuters.com ...
I found out I have twin sisters after taking an Ancestry DNA test. I also found out my half-brother was actually my full brother.
Thank you.
Yes, Ancestry.com is located in Utah on a former campus of the Word Perfect software people before Bill Gates ran them out of business. This is why former U.S. Senator Orin Hatch was always trying to invoke antitrust laws against Microsoft that went nowhere because Bill Gates owned more politicians.
And, yes, because they are located in Utah, they probably have a substantial number of Mormon employees.
Personally, I wish more churches owned businesses because maybe they wouldn't be so anti-capitalist.
Genetic Genealogy | |
Send FReepmail if you want on/off GGP list Marty = Paternal Haplogroup O(2?)(M175) Maternal Haplogroup H | |
GG LINKS: African Ancestry FamilyTree DNA Int'l Society of Genetic Genealogy Nat'l Geographic Genographic Project | |
The List of Ping Lists |
They have a related site called AncientFaces.com. People post photos of their ancestors.
Maybe they should pay for their Swedish real estate instead.
Took me a minute. I thought this was about Blackrock.
Welcome to FR.
They are closely related and were co-developed, per my understanding. Rumors claim the names come from the muslim meteor rock that’s worshipped at Mecca.
Blackrock vs Blackstone
Blackstone’s business is in real estate, private equity, hedge fund solutions, and credit and insurance. On the other hand, Blackrock’s business is in equity, fixed income, multi-asset, alternatives, cash management, and advisory.
Nope.
sorry but you are wrong!!! just what proof do you have anyway
medicare does not have any medical records on anyone.
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