Francisco Partners is considering a potential sale of genealogy and DNA testing platform MyHeritage in a transaction that could value the business at around $1bn, according to a report by Bloomberg citing people familiar with the matter.
The technology-focussed private equity firm is understood to be working with Jefferies to approach potential buyers for the Israel-based company. Discussions are reportedly at an early stage and there is no certainty that a transaction will proceed.
Founded in 2003, MyHeritage provides DNA testing services and online genealogy tools, allowing users to identify relatives and trace family histories. The company claims to host around 58 million family trees globally.
Francisco Partners acquired MyHeritage in 2021 for an undisclosed sum.
