Reuters - MyHeritage Buys Geni.com
Family networking and genealogy website MyHeritage said it bought rival Geni.com as it continues to expand into the United States, Reuters reported. The Israeli company did not disclose how much it paid for Los Angeles-based Geni.com but said it was an eight-figure deal in a combination of cash and equity. MyHeritage also said it raised $25 million in a funding round led by Bessemer Venture Partners, while existing investors Index Ventures and Accel Partners also participated. The company has raised $49 million in total. MyHeritage, which helps people delve into their ancestry and connect with long-lost relatives, is second in the sector behind market leader Ancestry.com, which agreed last month to be bought for $1.6 billion by a group led by Europe-based private equity firm Permira Advisors LLC.
