According to the New York Times Ancestry.com is in talks with private equity firms, TPG Capital, Providence Equity Partners and Permira on a possible sale of the company with final bids due next month. This news comes hot on the heels of reporting that the second quarter revenue rose 18% to $119.1 million. Per-share profit also rose to 44 cents.
I reported on this blog a last month ago that Ancestry has been working with Frank Quattrone’s Qatalyst Partners LLC to find buyers. Reuters reports state that it has already taken first offers and, like the NY Times, did not identify its sources.
During a conference call last Wednesday, CEO Tim Sullivan was asked to comment on a possible sale. He said, “No, we read the newspapers, also,” Sullivan said. “We’ve seen them. I think we obviously just never would be commenting on anything like that.”
Representatives of TPT, Permira and Providence also declined to comment.