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Ancestry.com announced today it has
entered into an agreement to acquire iArchives,
Inc., and its subscription genealogy website Footnote.com.

The purchase price will be about $27 million in a mix of Ancestry.com stock, cash
and assumption of liabilities. The transaction, which will make iArchives a wholly
owned subsidiary of Ancestry.com, is expected to close early in the fourth quarter
of 2010. As part of the transaction, Ancestry.com expects to issue approximately a
million shares of common stock.

“This acquisition will provide the company with a complementary consumer brand, expanded
content offerings, and enhanced digitization and image-viewing technologies,” states
Ancestry.com’s announcement.

Here’s
the full announcement on Ancestry.com’s iArchives acquisition.

Update: See
our additional commentary on the acquisition here.