Ancestry.com Acquires Archives.com For $100 Million
Utah-based genealogy site Ancestry.com just announced that it has entered into a definitive agreement with Silicon Valley-based startup Inflection to acquire its competitor Archives.com for $100 million in cash and assumed liabilities. Inflection’s other products, people search site PeopleSmart and Identity.com, are not part of this acquisition. A number of Archive.com’s employees, including some of its key product and engineering executives, will join the Ancestry.com team after the acquisition closes.
According to Ancestry.com’s CEO Tim Sullivan, “Archives.com’s focus is consistent with our mission to help everyone discover, preserve and share their family history, which will help continue our efforts in delivering amazing discoveries to an even broader audience.”
Ancestry.com, which also operates a wide variety of secondary sites like Genealogy.com, Fold3.com Rootsweb.com and Footnote.com, is a publicly traded company and had just under $400 million in revenue in 2011. Ancestry.com also just released its earnings for the first quarter of 2012 today. The company had an operating income of $20.1 million and $108.5 million in revenue. Ancestry.com had 1.87 million subscribers at the end of March.