Blackstone Company Buying Ancestry: What Does It Mean for You

Blackstone, a private equity firm, has acquired Ancestry, a leading genealogy platform, for $4.7 billion.

This acquisition is a significant milestone for Ancestry, which has been a trusted resource for family history research for over 30 years.

The Blackstone acquisition is expected to expand Ancestry's reach and capabilities, potentially leading to new features and tools for users.

Ancestry has a vast collection of historical records and family trees, with over 20 billion records and 100 million family trees.

This wealth of information will likely continue to be a valuable resource for users, even under new ownership.

The acquisition is also expected to bring new investment and resources to Ancestry, which could lead to improved user experiences and more innovative products.

Blackstone agreed to buy a majority stake in Ancestry for $4.7 billion, a deal that values the company at roughly double its previous valuation of $3 billion in 2017.

Ancestry was last valued at $3 billion in 2017, but Blackstone's deal values the company at $4.7 billion.

Ancestry has generated $1 billion in annual revenue and has 30 million+ DNA profiles.

The company operates in over 30 countries and is the largest consumer DNA database in the world.

Ancestry's CEO Margo Georgiadis said the company will continue to leverage its unique content, powerhouse consumer brand, and technology platform to expand its global Family History business.

With Blackstone's help, Ancestry aims to bring to life its long-term vision of personalized preventive health.

The deal allows GIC to retain a significant minority stake in the company, but Blackstone will own about 75% of Ancestry after the deal closes.

Ancestry has 3 million paying customers, with services costing $25 to $50 per month or $100 to $200 every six months.

The company's subscription service has a strong network of highly engaged users, unique content, and scaled technology platform, making it a market leader.

Blackstone's investment is a prime example of the firm's focus on growing, digital consumer businesses that are resilient in the current environment and beyond.

With Blackstone's resources, Ancestry plans to accelerate its growth and development, providing a differentiated service to its customers.

The deal is Blackstone's largest private equity fund acquisition to date, and it's a significant step for the company in the consumer-genomics space.

Ancestry has a significant runway for further growth, with people increasingly interested in learning more about their family histories and themselves.

The company's mission is to empower journeys of personal discovery to enrich lives, and with Blackstone's help, it's well on its way to achieving that goal.

The deal is valued at $4.7 billion, making it Blackstone's largest private equity fund acquisition to date.

Blackstone will own about 75% of Ancestry.com after the deal closes, while GIC will still hold about 25%.

The acquisition marks the first investment by Blackstone's largest ever private equity fund.

Blackstone's Senior Managing Director, David Kestnbaum, is excited to partner with Ancestry and its management team.

The deal is a prime example of Blackstone's focus on investing in growing, digital consumer businesses.

Margo Georgiadis, President and Chief Executive Officer of Ancestry, is thrilled to have the opportunity to partner with Blackstone.

Blackstone's Managing Director, Sachin Bavishi, looks forward to contributing the company's resources and expertise to accelerate Ancestry's growth.

Ancestry's unique content and scaled technology platform have made it a market leader, according to Sachin Bavishi.

Ancestry.com's ownership is changing hands to a private equity firm called Blackstone. Blackstone is acquiring a majority share of the company for $4.7 billion.

Silver Lake and Singaporean sovereign-wealth fund GIC Pte have been the majority owners since 2016. After the deal closes, Blackstone will own about 75% of Ancestry.com, and GIC will still hold about 25%.

This significant investment will help Ancestry continue to grow and expand its services.

Long-time Ancestry user Shirley Ruge doesn't think Blackstone bought Ancestry just because they love people. She believes they have a plan to make money back, and more.

Blackstone's acquisition of Ancestry raises concerns over how they'll use the 18 million people's DNA data. The private equity firm now owns a vast amount of genetic information, which could be valuable to investors.

Electronic Privacy Information Center executive director Alan Butler is worried that Blackstone might use the data for reasons other than what consumers intended. He's concerned that investors might be interested in the data for financial gain.

According to Blackstone, they won't have access to genetic or family tree information provided by users. However, this doesn't necessarily mean their data will be safe.

The only law that might apply to govern how Blackstone uses genetic data is Section 5 of the Federal Trade Commission (FTC) Act. This law stipulates that Blackstone can't make "material, retroactive changes" to the privacy policy Ancestry users signed.

This lack of clear regulations leaves open the possibility of Ancestry splicing together its own data insights with external marketing data. This could lead to a whole new set of issues for genomics privacy.

Investment firms like Blackstone aim to capture the value of our genome, which could undermine the genomics industry's ability to cultivate more meaningful forms of genomic data. This could lead to a loss of opportunities for future discoveries and medical science advancements.