“Simple and Affordable” Fast-growing Start-up Adds Complementary Offering to Ancestry.com–
PROVO, Utah, April 25, 2012
– Ancestry.com Inc. (Nasdaq: ACOM) announced today it has entered into a
definitive agreement to acquire Archives.com, a family history website,
for approximately $100 million in cash and assumed liabilities.
This
transaction will enable Ancestry.com to add a differentiated service
targeted to a complementary segment of the growing family history
category. In addition, Ancestry.com will welcome a team of talented
engineers, digital marketers, and family history innovators into the
Ancestry.com fold and also gain access to a proprietary technology
platform that has supported Archives.com’s rapid growth.
Archives.com
is owned and operated by Inflection LLC, a Silicon Valley-based
technology company. Since Archives.com’s launch in January 2010, the
site has rapidly grown to more than 380,000 paying subscribers who pay
approximately $39.95 a year. Archives.com offers access to over 2.1
billion historical records, including birth records, obituaries,
immigration and passenger lists, historical newspapers, and U.S. and
U.K. Censuses.
“Archives.com
has built a fantastic and fast-growing business that we think is highly
complementary to Ancestry.com’s online family history offering,” said Tim Sullivan, President and Chief Executive Officer of Ancestry.com. “We love their
focus on making family history simple and affordable, and we are
excited to help the talented Archives.com team continue to grow
alongside Ancestry.com, Fold3.com, and Family Tree Maker.”
“Family
history remains a dynamic and growing online category,” added Sullivan.
“Archives.com’s focus is consistent with our mission to help everyone
discover, preserve and share their family history, which will help
continue our efforts in delivering amazing discoveries to an even
broader audience.”
Over the past two years, Archives.com has partnered
with multiple well-known family history organizations that have helped
build out Archives.com robust collection of family history records. Most
recently, Archives.com partnered with the U.S. National Archives to
provide free digital access to the recently released 1940 U.S. Federal
Census.
“We
are proud of the experience we’ve built with Archives.com and believe
strongly in its future potential,” said Matthew Monahan, CEO and
Co-Founder of Inflection. “Combining with Ancestry.com positions
Archives.com to best capitalize on that potential, pairing complementary
visions of the marketplace and the opportunity. We’ve long admired
Ancestry.com’s content and technology and the innovations that the
Ancestry.com team continues to bring to market. We’re excited to see
how this transaction expands the reach of family history to an even
larger audience.”
Upon
completion of the transaction, which is subject to customary closing
conditions, including expiration of the HSR waiting period, Ancestry.com
will continue to operate Archives.com separately retaining its brand
and website. Multiple Inflection employees, including key product and
engineering executives are expected to join the Ancestry.com team.
About Ancestry.com
Ancestry.com
Inc. (Nasdaq: ACOM) is the world's largest online family history
resource, with more than 1.8 million paying subscribers. More than 9
billion records have been added to the site in the past 15 years.
Ancestry users have created more than 34 million family trees
containing approximately 4 billion profiles. In addition to its
flagship site, Ancestry.com offers several localized Web sites designed
to empower people to discover, preserve and share their family history.
About Archives.com
Archives.com is a leading family history website that makes discovering family history simple and affordable. The company has assembled more than 2.1 billion historical records all in a single location. Archives also partners with other leading family history websites to provide a comprehensive resource for researching your family history. Archives.com is free to try for seven days, allowing anyone to explore the benefits of membership without risk or obligation. For more information and to start discovering your family history, please visit http://www.archives.com/.
Archives.com is a leading family history website that makes discovering family history simple and affordable. The company has assembled more than 2.1 billion historical records all in a single location. Archives also partners with other leading family history websites to provide a comprehensive resource for researching your family history. Archives.com is free to try for seven days, allowing anyone to explore the benefits of membership without risk or obligation. For more information and to start discovering your family history, please visit http://www.archives.com/.
Inflection is a Big Data and e-commerce startup headquartered in the heart of Silicon Valley. Leveraging its proprietary technology platform, the company has built innovative data services like Archives.com, PeopleSmart.com, and Identity.com. Inflection was founded in 2006 and is backed by tier-one venture capitalists Matrix Partners and Sutter Hill Ventures.
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