Ancestry.com Completes Acquisition Of Archives.com

8/17/2012 4:29 PM ET

Ancestry.com Inc. (ACOM: Quote) said Friday that it has completed its acquisition of family history website Archives.com for about $100 million in cash and assumed liabilities.

The deal was originally announced in April.

Archives.com was owned and operated by Inflection LLC, a Silicon Valley-based technology company. Since Archives.com's launch in January 2010, the site has rapidly grown to more than 440,000 paying subscribers who pay about $39.95 a year. Archives.com offers access to over 2.2 billion historical records, including birth records, obituaries, immigration and passenger lists, historical newspapers, as well as U.S. and U.K. Censuses.

Ancestry.com plans to operate Archives.com separately, retaining its brand and website. Many Inflection employees, including key marketing, product and engineering executives, will join the Ancestry.com team.

Click here to receive FREE breaking news email alerts for Ancestry.com Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

<<Previous 152 Articles

Editors Pick

Adobe Profit Tops Estimate

Publishing and design software maker Adobe Systems Inc. said Tuesday after the markets closed that its second quarter profit fell 66% from last year, hurt by lower revenue as well as higher costs and expenses. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations and its quarterly revenue was in line with analysts' forecast.

Stocks Show Strong Upward Move Ahead Of Fed Announcement - U.S. Commentary

Stocks showed a strong upward move over the course of the trading day on Tuesday, adding to the gains posted in the previous session. The rally came even as traders expressed some uncertainty ahead of tomorrow's Federal Reserve announcement. The major averages gave back some ground going into the close but remained firmly in positive territory.

Boehner Indicates Immigration Bill Must Have Majority GOP Support

In a potential roadblock to comprehensive immigration reform legislation, House Speaker John Boehner, R-Ohio, indicated Tuesday that he would not bring a bill to the floor unless it is supported by a majority of House Republicans.