Francisco Partners to buy Israeli company MyHeritage
The U.S. private equity firm is acquiring the genealogy platform for USD 600-700 million, according to sources’ estimates.
Founded in 2003 by CEO Gilad Japhet, the company raised $49 million in five financing rounds, the last of which was in 2012, and since then it has been profitable.
Investors in the company include Accel Partners, Index Ventures, and Bessamer as well as private investors Aviv Raiz and Yuval Rakavy, who have continued to support the company.
According to MyHeritage’s announcement, some of the company’s current shareholders including HP Beteiligungs GmbH, Rakavy, Gigi Levy and Japhet will reinvest in MyHeritage alongside Francisco Partners.
MyHeritage’s platform has 62 million users in 42 languages and has created 58 million family trees and has accrued a databank of 13 billion historical family lists.
Goldfarb Seligman acted as legal advisor and J.P. Morgan acted as exclusive financial advisor to MyHeritage on the transaction. Meitar and Fried Frank advised Francisco Partners.
The transaction is subject to customary regulatory review.
