The Generations Network, parent company of Ancestry.com, MyFamily.com and many other genealogy-related websites has agreed to a $300 million majority-interest purchase from investment group, Spectrum Equity Investors. The investment group has been a shareholder in The Generation Network for about four years. The acquisition should be finalized this year.
“As an investor in The Generations Network for the past four years, we have watched the company revolutionize the family history category by leveraging the power of the Internet to make it more accessible and easy for anyone,” said Vic Parker, Managing Partner, Spectrum Equity Investors. “Ancestry.com and myfamily.com are clear category leaders in the growing and rapidly evolving family history and family networking markets. We are excited to partner with The Generations Network management team to continue growing this truly unique company that has the power to impact users at a very personal and emotional level.”
