Ancestry.com Announces Stockholder Approval Of Acquisition By Permira
PROVO, Utah, Dec. 27, 2012 (GLOBE NEWSWIRE) -- Ancestry.com (Nasdaq:ACOM), the world's largest online family history resource, today 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 Ancestry.com Inc. 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. Ancestry users have created more than 41 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. The Ancestry.com, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13617 About Permira 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 ("TMT").
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts