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Provo-based Ancestry.com said Friday that two investment firms, Silver Lake and GIC, have invested $2.6 billion into the family-history company.
The investments will give Silver Lake and GIC equal and "significant" minority ownership stakes in Ancestry.com. Majority ownership will remain with current investors Permira, Spectrum Equity and two company managers, President and CEO Tim Sullivan and Chief Operating Officer Howard Hochhauser.
GIC, established in 1981 to manage Singapore's foreign reserves, already was an investor in Ancestry.com, which has 2.2 million paying subscribers interested in researching 78 million family trees among 17 billion digitized historical records.
Ancestry.com also has 1.5 million DNA samples.
"Silver Lake's and GIC's investments constitute a vote of confidence in our future … and a validation of the tremendous opportunities we see ahead," Sullivan said in a news release.
He said Silver Lake's "track record for successful technology investing at scale" will propel Ancestry.com's global expansion plans "as we help people around the world learn more about who they are and where they come from."
Mike Bingle, Silver Lake's managing partner, said Ancestry.com's subscription businesses are "well positioned to deliver further attractive and profitable growth" because they continue to "define and pioneer the market for self-discovery."
"Ancestry's rapidly expanding consumer DNA testing services has powerful network effects and widespread consumer appeal," he added.
GIC Managing Director Eric Wilmes said his company's experience with Ancestry.com has been positive over the past three years. He expects it to improve with Silver Lake and Permira rounding out a team that will "support Ancestry's growth and create value together."
The transaction is expected to close this summer, Sullivan said, following regulatory approval.