(Corrects figure in headline to $25 mln, not $25)
JERUSALEM Nov 28 Family networking and
genealogy website MyHeritage said it bought rival Geni.com as it
continues to expand into the United States.
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, 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
The acquisition is the first of the year for MyHeritage but
eighth and largest since 2005. A year ago, it bought Utah-based
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.
The funds will be used to boost growth of its historical
content services and expand commercial operations worldwide. It
said it will also enable MyHeritage, whose network has 72
million registered users, 1.5 billion profiles and 27 million
family trees, to explore further mergers and acquisition
(Reporting by Steven Scheer)