Ancestry.com Inc. (ACOM: Quote) said Wednesday that it has agreed to buy Archives.com, a family history website, for about $100 million in cash and assumed liabilities.
The deal 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. Since Archives.com's launch in January 2010, the site has rapidly grown to more than 380,000 paying subscribers who pay about $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.
Following the completion of the deal, 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.
| || |
| To receive FREE breaking news email alerts for Ancestry.com Inc. and others in your portfolio|
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org