Ancestry.com (Nasdaq:ACOM), the world’s largest online family history resource, announced that the Ancestry.com stockholders have approved the previously announced merger agreement pursuant to which a company owned by Permira funds and co-investors, will acquire the Company.
Based on the preliminary tabulation of the stockholder vote, approximately 99% of the total votes cast, which represents approximately 75% of the total shares outstanding of Ancestry.com as of the November 30, 2012 record date, were voted in favor of adopting the merger agreement.
“We are very pleased with the outcome of today’s vote,” said Tim Sullivan, President and Chief Executive Officer of Ancestry.com and a member of the Company’s Board of Directors. “On behalf of Ancestry.com, I want to thank our stockholders for their support throughout this process. We look forward to closing the merger by year-end.”
Qatalyst Partners LP is acting as financial advisor and Wachtell, Lipton, Rosen & Katz is acting as legal counsel to Ancestry.com.
About Ancestry.com – ACOM
Ancestry.com Inc. (ACOM) is the world’s largest online family history resource, with approximately 2 million paying subscribers. More than 11 billion records have been added to the site in the past 16 years. ACOM users have created more than 41 million family trees containing approximately 4 billion profiles. In addition to its flagship site, ACOM offers several localized Web sites designed to empower people to discover, preserve and share their family history.
Permira is a European private equity firm with global reach. The Permira funds, raised from pension funds and other institutions, make long-term investments in companies with the ambition of transforming their performance and driving sustainable growth.
Founded in 1985, the firm advises funds with a total committed capital of approximately $30 billion. Over the past 26 years the Permira funds have made nearly 200 private equity investments, over 30% of which have been in the core sector of Technology, Media & Telecom.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.