Yesterday Ancestry.com issued a press release announcing it had "entered into a definitive agreement to acquire iArchives,Inc." This acquisition includes Footnote.com "a leading American History Web site. Ancestry stated "This acquisition will provide the company with a complementary consumer brand, expanded content offerings, and enhanced digitization and image-viewing technologies."
In early trading today Ancestryystock is up slightly. However, it is not up nearly as much as the market as a whole. That is to be expected as investors generally become cautious when one company acquires the debt of another. Over the past several days Ancestry (ACOM) has been part of the general market gains.
Ancestry itself has experienced phenomenal growth over the last year and there have been some recent whispers that it might be the kind of company that would be an attractive acquisition for an even larger corporation.