Genealogy juggernaut Ancestry.com, now a publicly held company trading on NASDAQ as ACOM for about 22 bucks and change as I write, will be acquiring iArchives (the company that operates Footnote.com) in a deal worth $27 million, according to this morning's press release. This is on the heels of their acquisition of Sweden's Genline earlier this year.
Tim Sullivan, the president and CEO of Ancestry.com, described the Footnote acquisition as "...highly complementary to Ancestry.com's online family history offering."
Specific operational details are not discussed in the press release. It is likely that more will be forthcoming as the market absorbs this information. So far, the market seems to like the Ancestry.com acquisition plan; ACOM stock has been inching upward from the seventeen dollar mark earlier this summer.