Israeli genealogy platform MyHeritage announced today that it has signed agreements to acquire 90.91% of the share capital and 89.11% of the voting rights of French rival Filae. The acquisition will take place through parent company through TreeHouse Junior Ltd. at €20.75 per share for a total deal value of €31.1 million.
MyHeritage will leverage Filae’s expertise in French historical records to extend its global reach. This is MyHeritage's 12th acquisition and the company says that it reinforces its position as the leading family history service in Europe.
Filae strives to make genealogical research easier and more accessible through innovative technologies and exclusive collections of digitized and transcribed historical records from France.
Founded in 2003, MyHeritage has developed one of the world’s leading family history platforms. Earlier this year US private equity firm Francisco Partners acquired MyHeritage for an estimated $600 million.
Powered by proprietary technologies, MyHeritage is currently used by 90 million registered users worldwide and is available in 42 languages, reflecting the company’s international reach and diverse user base. MyHeritage users have collectively created tens of millions of family trees, and the platform is home to a vast collection of nearly 14 billion historical records. The platform’s many features include world-class tools that are based on artificial intelligence.
Following the acquisition, the exclusive historical record collections housed on Filae will be made accessible to MyHeritage users, creating new opportunities for genealogical discoveries for individuals around the world with French roots. MyHeritage’s resources and technologies will enable Filae to accelerate the digitization and indexing of additional historical record collections, which will be made accessible to users of both platforms. Filae will remain a French company based in Paris and will continue to operate autonomously. Filae’s founder, Toussaint Roze, will continue to manage the company and its operations will continue uninterrupted.
MyHeritage founder and CEO Gilad Japhet said, "As we did when we acquired Geni.com eight years ago, our plan is to maintain Filae’s independence and existing team, and strengthen it. French genealogists have much to gain from this combination, which brings together MyHeritage’s resources, its powerful matching technologies, and Filae’s extensive historical archives and its expertise in French genealogy. The acquisition of Filae is a significant step for MyHeritage that builds on a longstanding relationship of trust and mutual respect."
"We sought to accelerate our growth and recognized the incredible opportunity before us," said Toussaint Roze, Founder and CEO of Filae. "MyHeritage has unparalleled experience, technological expertise, and an excellent reputation, and we are confident that by combining our respective strengths, Filae will experience strong growth that will enrich the family history resources for anyone of French descent."
Published by Globes, Israel business news - en.globes.co.il - on August 2, 2021
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