Thursday, August 23, 2012

Ancestry.com Buyout Bids Lower Than Desired, Says Report

An effort by Provo, Utah-based genealogy and family history site Ancestry.com to sell itself to a private equity firm apparently is not going as well as the company had hoped, and has been coming in for less than the company is looking for, according to reports. Several reports, including one from Bloomberg, said that Ancestry.com has asked potential buyers to increase their bids for the firm. The report identified TPG Capital, Permira Advisers as two of the bidders on Ancestry.com, with KKR & Co. and Providence Equity Partners also considering submitting bids. Ancestry.com's bid to sell the firm has been floating around since June.