Sunday, September 26, 2010

Ancestry.com To Acquire iArchives (Footnote.com)

Ancestry.com announced September 23rd that it has entered into a definitive agreement to acquire iArchives, Inc. and its branded website, Footnote.com for approximately $27 million in a mix of Ancestry.com stock, cash and assumption of liabilities.

iArchives digitizes and delivers high-quality images of American historical records of individuals involved in the Revolutionary War, Continental Congress, Civil War, and other US historical events to Footnote.com subscribers interested in early American roots. iArchives has digitized more than 65 million original source documents to date through its proprietary digitization process for paper, microfilm and microfiche collections.

Ancestry.com Inc. (Nasdaq: ACOM) is the world's largest online family history resource, with approximately 1.3 million paying subscribers. More than 5 billion records have been added to the site in the past 13 years. Ancestry users have created more than 19 million family trees containing over 1.9 billion profiles. Ancestry.com has local Web sites directed at nine countries, including its flagship Web site at www.ancestry.com.

Upon completion of the transaction, iArchives will become a wholly-owned subsidiary of Ancestry.com. The transaction is subject to various closing conditions and is expected to close early in the fourth quarter of 2010.

Questions as to what this means have been posed to Ancestry staff, and Ancestry legal staff have replied to certain questions, which they said may be shared with the community:
Q: What will happen to Footnote.com after the acquisition?
A: Footnote will be a wholly-owned subsidiary of Ancestry.com and will
continue running as a stand-alone business. Footnote.com will continue to
digitize and deliver American historical records to its customers.

Q: Will I get a Footnote.com subscription as part of my Ancestry.com
subscription?
A: No, Ancestry.com and Footnote.com will continue to work as separate
services focused on their areas of expertise.

Q: Will the records on Footnote.com be added to Ancestry.com?
A: While some records available on Footnote.com may be added to the
Ancestry.com content collection, the majority will remain exclusive to
Footnote.com as those records are focused on American history rather than
genealogy.

Q: How much overlap is there between the two collections?
A: There are millions of images that are available on Footnote.com that are
not currently available on Ancestry.com

As of the date of this posting there was nothing noted on either the Ancestry.com nor Footnote.com websites. For more information continue to look at:
http://corporate.ancestry.com/press/press-releases/ and
http://www.footnote.com/page/120_footnote_press_room/

Jan Meisels Allen
IAJGS Director-at-Large
Chairperson, IAJGS Public Records Access Monitoring Committee

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