Ancestry.com reportedly near sale to buyout firms

Associated Press

NEW YORK (AP) — Shares of Ancestry.com rose in after-hours trading after a report said the genealogy website is close to being sold to private equity firms.

The New York Times reported Tuesday that the company is in talks with three firms: Permira, Providence Equity Partners and TPG Capital.

A spokeswoman for the Provo, Utah-based Ancestry.com said, "We have no comment."

Ancestry.com's stock jumped 16.7 percent to $31.80 in after-hours trading.

The report, quoting anonymous sources, said the talks have put a value on the company's stock well above $30. At a price of $35 per share, the company would have a market value of $1.5 billion.

Ancestry.com's stock closed the regular trading day at $27.23, giving it a market value of $1.16 billion. The stock has traded between $20.67 and $43.93 over the past year.

The company is scheduled to report earnings Wednesday. Analysts predict the company will post quarterly net income of 40 cents per share and revenue of $117 million, according to the data provider FactSet.

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