Acquiring For $100M

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PROVO, Utah (AP) — Inc. says it will acquire rival family history website for about $100 million in cash and assumed liabilities.

The two companies said Wednesday that they’re combining their strengths and key employees but will maintain separate websites. is owned by Silicon Valley-based technology company Inflection LLC. It offers access to about 2 billion historical records, from birth records to obituaries, and has 380,000 paying customers. has 1.8 million customers. It’s the world’s largest online family history resource, with 9 billion records.

Ancestry President and CEO Tim Sullivan says Archives is a fast-growing business that has made putting together family history profiles simple and affordable.

Shares of rose $1.04 to $24.44 Wednesday and climbed another $2.81 in extended trading after the deal was announced.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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