There goes your DNA, as Ancestry sells to Blackstone Group
- Ancestry.com announced Wednesday it is selling 75 percent of the company to asset manager Blackstone Group Inc
- The deal is valued at $4.7 billion, including debt
- The investment firm will now have majority control over the company's DNA network which includes data on 18million people
- Ancestry.com is the world's largest provider of DNA services
- Blackstone is hoping that more consumers staying at home amid the COVID-19 pandemic will turn to the DNA-testing giant for its services
Genealogy and DNA-testing giant Ancestry.com announced Wednesday it is selling 75 percent of the company to asset manager Blackstone Group Inc.
The investment firm said in a statement it agreed to acquire the genealogy provider from private equity rivals for $4.7 billion, including debt, placing a big bet on family-tree chasing as well as personalized medicine.
Utah-based Ancestry.com has more than three million paying customers and data on over 18million people in its DNA network.
The deal with Blackstone has left some of the family history service's users unnerved at the transfer of data on their DNA to the control of another company.
For the rest of this article please go to source link below.