Ancestry.com Acquiring Archives.com For $100M
PROVO, Utah (AP) — Ancestry.com Inc. says it will acquire rival family history website Archives.com 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.
Archives.com 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.
Ancestry.com 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 Ancestry.com rose $1.04 to $24.44 Wednesday and climbed another $2.81 in extended trading after the deal was announced.
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