Ancestry.com to Acquire iArchives and Footnote.com
Posted by Diane
Ancestry.com announced today it has entered into an agreement to acquire iArchives, Inc., and its subscription genealogy website Footnote.com.
The purchase price will be about $27 million in a mix of Ancestry.com stock, cash and assumption of liabilities. The transaction, which will make iArchives a wholly owned subsidiary of Ancestry.com, is expected to close early in the fourth quarter of 2010. As part of the transaction, Ancestry.com expects to issue approximately a million shares of common stock.
“This acquisition will provide the company with a complementary consumer brand, expanded content offerings, and enhanced digitization and image-viewing technologies,” states Ancestry.com’s announcement.
Here’s the full announcement on Ancestry.com’s iArchives acquisition.
Update: See our additional commentary on the acquisition here.
Ancestry.com | Footnote | Genealogy Industry
Thursday, September 23, 2010 8:41:54 AM (Eastern Daylight Time, UTC-04:00)