The American private equity fund Francisco Partners acquires MyHeritage for $ 600 million

The American private equity fund Francisco Partners acquires MyHeritage. The companies did not publish the purchase value, but Calcalist has learned that it is about $ 600 million. The deal price may even go up.
CEO Gilad Yefet: "It's hard to be a promising start-up after 17 years and among the options on the agenda, the Francisco option was the most suitable for me. They are the factor that most wants to bring the company to an exit and come without changing world orders.
"Instead of being sold to a competitor, we have long contacts with the buyer and in the end we got married. I am going to continue with the company and continue to the next exit with them with my management and my employees. Everything is business as usual, we are on the way to the next exit. We have great enthusiasm and new energies."
Since its inception in 2003, MyHeritage has been considered a company offering an innovative approach to discovering family history, making the field of family roots easier and more accessible to millions of users worldwide. The platform operated by the company is currently used by 62 million users worldwide and is available in 42 languages, which indicates its extensive activity in the world and a diverse user base. Millions of users of the platform have already created over 58 million family trees.
Over the years, MyHeritage has invested heavily in developing technologies designed to help users discover new discoveries in their family history research. The company has amassed an extensive database of 13 billion historical records, which also includes exclusive collections from many countries. The many features of the platform also include tools for coloring and enhancing historical images using artificial intelligence-based technology.
Since its inception, the company has raised $ 49 million in five rounds of financing, the last of which was in 2012, after which the company became profitable. Investors in the company included private investors Yuval Rechbi and Aviv Reiz, who invested in the company in 2005 and have continued to support it ever since. In addition, the company also invested in the venture capital funds Accel, Index Ventures and Bessemer Venture Partners. With their investment and support, the company has accelerated its growth and completed 11 strategic acquisitions over the years.
Some of the company's current investors will reinvest in the company alongside Francisco Partners, including HP Beteiligungs GmbH, Yuval Rechbi, CEO and founder of the company Gilad Yefet, and independent investor Gigi Levy.
In addition to its business activities, Mae Heritage is looking for opportunities to use its tools and services to produce a profound positive impact on the world. Its pro-bono initiatives include DNA Quest - an initiative that helps adoptees unite with their biological families by donating thousands of DNA tests, and Tribal Quest - an initiative that helps document the family history and cultural heritage of endangered tribes around the world. In addition, with the advent of the corona virus, MyHeritage established a corona testing laboratory in Israel in order to save lives and help Israel fight the plague.