Today it was announced that privately owned The Generations Network is being acquired by Spectrum Equity Investors for $300 million. The asking price was $500 million. The Generations Network is the company that runs Ancestry.com, MyFamily.com and other geneology web sites. It’s based in Provo, Utah.
Their last round of financing valued the company at $100 million. TechCrunch reports that they are making $150 million or so in yearly revenue and that they’ve heard the company is hugely profitable. But there have been chronic cycles of layoffs and morale has seemed low at the company for quite some time. A few months ago the the CFO was laid off and there were offers and speculation that a buyout was coming.