Genealogy Site Acquired by Israeli CompanyWednesday, November 28, 2012
Geni.com, a Los Angeles genealogy and family networking website, is being acquired by MyHeritage, an Israeli firm that has been expanding into the United States.
The Tel Aviv company did not disclose how much it paid for Geni. But Reuters reports that the deal was a combination of cash and equity valued in the tens of millions of dollars.
“Today’s news is a major turning-point for the family history industry, giving us significant new resources to extend our market leadership and deliver new value to families worldwide,” MyHeritage Chief Executive Gilad Japhet said in a statement.
MyHeritage is considered second in size to market leader Ancestry.com, a Provo, Utah public company. MyHeritage, which bought another Utah genealogy company last year, has 72 million registered users.
Founded in 2007, Geni.com will continue to operate as a separate brand based out of its Los Angeles office with founder David Sacks joining MyHeritage’s board.