The acquisition of Myheridage by an American fund will not change any of its French plans

The acquisition of Myheridage by an American fund will not change any of its French plans

The The Heritage Portal of Israeli Descent was purchased by Francisco Partners, a California investment fund, on February 24, 2021., After more than a year of trading. Estimates circulated in the Israeli press put the sales at about 600 million. Francisco Partners manages a total portfolio of $ 24 billion.

My tradition It has one of the world’s largest genetic DNA databases, with 62 million users worldwide, 58 million family trees in 42 languages ​​and 4.8 million customers. The company employs 600 people.

Commenting on the implications of the acquisition, Chief Executive Officer and Founder of My Heritage Glad Jabet, In an interview with the Jerusalem Post Pointed out “He will continue to run the company” And “Francisco Partners will maintain the company’s offices and factories in Israel and abroad..

“I do not want an exit where I can take the money and retire. I will continue to run the company in terms of sales, we will continue to grow, reward our employees and partners, and then aim for another exit,” he said. He clarified.

Glad Jabb ரெt, questioned by the legacy of the La Review franais de, assures us that this transaction will not “definitely” change anything in the plans to buy the file in France: “The acquisition of Francisco Partners only enhances our desire and resources to bring the file back to its rightful place, which should be with Heritage.”.

In France, the transaction has caused a stir as the announcement of the acquisition has sparked a real war to control Flay, with Janet Portal, already the largest shareholder, launching an acquisition attempt with its main French rival.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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