Ancestry.com is buying iArchives for $27 million, as the competition among sites in the genealogy space heats up. The deal comes three months after Ancestry acquired its Swedish counterpart Genline for $6.7 million in cash. Earlier this month, Inflection, an otherwise quiet startup that’s behind genealogy site Archives.com, raised $30 million in a first round funding. The purchase of iArchives suggests that Ancestry is trying to broaden its offerings as the genealogy space becomes more and more crowded.
The purchase of Archives, Inc. also gives Ancestry ownership of its Footnote.com, a subscription-based site focusing on American history. iArchives digitizes and delivers high-quality images of American historical records of individuals who participated in notable events over the past 200-plus years since the founding of the U.S.
By acquiring Archives Inc., Ancestry hopes to expand its business from people curious about their long lost relatives to becoming a repository for serious researchers of history and academic institutions.
The deal is set to close by the end of the year. The $27 million Ancestry is putting up contains a mix of the company’s stock, cash and assumption of Archive’s liabilities. Release