Ancestry.com is the world’s largest provider of DNA services, allowing customers to trace their genealogy and identify genetic health risks with tests sent to their home.
The deal is Blackstone’s first acquisition out of Blackstone Capital Partners VIII, the largest-ever private equity fund that raised $26 billion from investors last year.
Blackstone is buying Ancestry.com from private equity firms Silver Lake, Spectrum Equity and Permira.
Singapore’s sovereign wealth fund GIC, another Ancestry.com investor, said it will continue to maintain a significant minority stake in the company.
The acquisition’s price tag represents a significant jump to Ancestry.com’s valuation from four years ago, when Silver Lake and GIC invested in the Lehi, Utah-based company at a $2.6 billion valuation.
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WASHINGTON (Reuters) - The Federal Aviation Administration said on Monday it is proposing requiring four key Boeing 737 MAX design changes to address safety issues seen in two crashes that killed 346 people and led to the plane’s grounding in March 2019.
The FAA said in a separate 96-page report released on Monday that it “has preliminarily determined that Boeing’s proposed changes to the 737 MAX design, flightcrew procedures and maintenance procedures effectively mitigate the airplane-related safety issues” in the two fatal crashes.
The changes are designed to prevent the erroneous activation of a key system known as MCAS tied to both crashes, to alert pilots if two AOA sensors are receiving conflicting data and to ensure flightcrew can recognize and respond to erroneous stabilizer movement.
The FAA said the changes minimize “dependence on pilot action and the effect of any potential single failure” and added that design changes address seven safety issues, including several involving MCAS.
NEW YORK/WASHINGTON (Reuters) - President Donald Trump only agreed to allow Microsoft Corp (MSFT.O) to negotiate the acquisition of popular short-video app TikTok if it could secure a deal in 45 days, three people familiar with the matter said on Sunday.
Trump said on Friday he was planning to ban TikTok amid concerns that its Chinese ownership represents a national security risk because of the personal data it handles.
But following a discussion between Trump and Microsoft CEO Satya Nadella, the Redwood, Washington-based company said in a statement on Sunday that it would continue negotiations to acquire TikTok from ByteDance, and that it aimed to reach a deal by Sept.
This is a deadline that was put to ByteDance and Microsoft by the Committee on Foreign Investment in the United States (CFIUS), which scrutinizes deals for potential national security risks, according to the sources.