Breaking News: MyHeritage to be purchased by US equity firm in reported $600 million deal

 

A news article in the Times of Israel dated 24 February at 11:07 pm with a headline reads: "MyHeritage to be purchased by US equity firm in reported $600 million deal." Hmm. Here are some quotes from the article.

The Israeli online genealogy platform MyHeritage announced Wednesday it has reached an agreement to be purchased by US private equity firm Francisco Partners.

A statement from MyHeritage said the sides signed a definitive agreement, but didn’t disclose financial details of the deal. Sources told Hebrew media the deal was valued at over $600 million.

 “This move will enable us to reach new heights, invest more resources in creating greater value for our users and to reach a larger audience. We’re incredibly excited for this next chapter in our company’s evolution,” MyHeritage CEO Gilad Japhet said.

That is about all I know at the moment.