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Permira, Providence line up for

25 Jul 2012

Permira Advisers and Providence Equity Partners are reported to be among a handful of private equity firms involved in the sale of, the family history research website.

The company is understood to have taken first round bids and is looking to receive revised offers early next month, according to Reuters, adding it was not clear whether a sale would happen.

The company, whose shares closed at $27.23 on Tuesday, could fetch over $35 per share.

Spectrum Equity Investors bought a controlling stake in the parent company of and other sites for $300m in 2007. The firm floated on the public market two years later.

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