Wednesday, April 25, 2012 announces it has acquired for about $100 million in cash and assumed liabilities

In a move that will help the company consolidate the market, Inc. announced that it had reached an agreement to acquire the family history website The deal was announced as being priced at approximately $100 million in cash and assumed liabilities.

" has built a fantastic and fast-growing business that we think is highly complementary to's online family history offering," the president and CEO of, Tim Sullivan, said in the company's statement. "We love their focus on making family history simple and affordable, and we are excited to help the talented team continue to grow alongside,, and Family Tree Maker." is owned by Inflection LLC, a Silicon Valley-based technology company that in addition to also owns the, and branded sites, and is backed by Matrix Partners and Sutter Hill Ventures.

According to the announcement, the plan is to continue the website brand and "multiple" Inflection employees are expected to join the new company. (I suppose that means there will be layoffs, no?)