NEW YORK Aug 22 Bids submitted earlier this
month by private equity firms for Ancestry.com, the
family-history research website, have fallen short of the
company's expectations, according to two people familiar with
Buyout firms, including Permira Advisers LLP and TPG Capital
LP, are now considering whether they should increase their
offers, the people said.
Other private equity houses, including Providence Equity
Partners, are no longer vying for the company, they added.
Bloomberg News, which reported on the status of the process
earlier on Wednesday, cited one source as saying that
Ancestry.com had rejected a bid of $35 per share.
The stock closed at $30.24 on Wednesday, giving the company
a total market value of $1.3 billion.
An Ancestry.com spokeswoman did not immediately return a
call for comment after normal business hours.
Representatives of TPG and Providence declined to comment
while a Permira official did not immediately respond to a
request for comment.
Ancestry.com suffered a blow in May when U.S. network NBC
decided not to renew the company's TV show for a fourth season.
The company sponsored the American version of the popular
British series "Who Do You Think You Are?" The show, built
around tracing celebrities' family history through
Ancestry.com's databases, was a major driver of new subscriber
additions for the company's website.
Private equity firm Spectrum Equity Investors LP acquired a
majority stake in the parent company that runs Ancestry.com and
other sites for $300 million in 2007. The investor took
Ancestry.com public two years later in a $100 million offering.