Northern,WI 10/23/2012 (BasicMedia)  —  Ancestry.com (NASDAQ:ACOM):  The Provo, Utah-based company hired  Frank Quattrone’s Qatalyst Partners in June to find a buyer and yesterday they found one as Permira Advisors LLC  buys this Geneaology Site for $1.6B or $32 p/s…as another publicly traded cash cow gets taken under by Private Equity..this time from across the pond!!

It amazes me that Private Equity is gorging on public companies in front of the election and it is flying so far under the radar?  I don’t get why the media is ignoring this ….it seems every article I write is about Private Equity claiming another listed stock.  Thanks Sarbanes Oxley…soon there will only be Google, Apple and FaceBook!!  But it’s really interesting that Frank Quattrone is back!!!

Frank Quattrone (born 1955) is an American technology-focused investment banker who started technology sector franchises atMorgan StanleyDeutsche Bank, and Credit Suisse First Boston. He helped bring dozens of technology companies public during the 1990s tech boom, including NetscapeCisco, and Amazon.com. Later, he was prosecuted for interfering with a government probe into Credit Suisse First Boston‘s behavior in allocating “hot” IPOs. The case was eventually dropped. He was earning roughly $120 million a year during his peak at the firm. Quattrone is now head of merchant banking firm Qatalyst Group, which he founded in March 2008

Genealogy website operator Ancestry.com agreed to be acquired for $1.6 billion by a group led by Europe-based private equity firm Permira Advisors LLC, four months after it put itself up for sale following the cancellation of a TV show based on its research.

The company, whose website helps users trace their family roots, will be taken private at $32 per share, a 10 percent premium to the stock’s Friday closing price of $29.18.

Ancestry.com received offers in August from three private equity firms, including Permira, but none of the bidders met the company’s price expectations at the time.

Sources had told Reuters earlier this month that Permira had emerged as the front-runner to buy the company.

The Permira-led buyout group includes the private equity firm’s co-investors, members of Ancestry.com’s management, including Chief Executive Tim Sullivan and Chief Financial Officer Howard Hochhauser, and Spectrum Equity, which is the largest shareholder in the company with a 30 percent stake.

Spectrum will exchange $100 million worth Ancestry.com shares for shares of the buying group — Global Generations International Inc and Global Generations Merger Sub — the company said in a filing.

Sullivan and Hochhauser will also exchange or roll over a “substantial majority” of their stakes for equity securities in the buying group.

Barclays, Credit Suisse Securities, Deutsche Bank, Morgan Stanley and RBC Capital Markets have agreed to provide financing of up to $1.02 billion for the deal, Ancestry.com said.

The company will have to pay a termination fee of $37.8 million if it accepts another offer. If the buying group terminates the agreement, it will have to pay Ancestry.com $75.6 million.

The deal is Europe-based Permira’s fourth in the United States in 12 months. It previously acquired technology-based student assessment firm Renaissance Learning, automated material handling solutions provider Intelligrated, and software maker Genesys.

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