Blackstone agrees to buy Ancestry in $4.7 billion deal
Investment firm Blackstone announced on Wednesday that it was scooping up direct-to-consumer genetics company Ancestry from its former equity holders for $4.7 billion.
The firm will take the reins from global firms including Silver Lake, GIC, and Spectrum Equity, but GIC will retain a significant minority stake in the company, according to a press release. Ancestry was last valued at roughly $3 billion in 2017, according to PitchBook, and had eyed an IPO in 2017 and 2019, when the personal genetics business was booming.
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