Permira Advisers to buy family-history web service
Ancestry.com and Permira Advisers have reached an agreement in which European Equity firm Permira will purchase Ancestry.com for $1.6 billion. Permira will pay about $32 per share for Ancestry.com, nearly a 10 percent premium over the site's $29.18 closing price from Friday. Ancestry.com shares rose on the news, closing up 7.8 percent at $31.44 today.
Nokia eager to shed luxury badge
Nokia's plans to shed its Vertu brand have reportedly come closer after a leak [free reg. required]. Uncredited tips to the FT had one of Nokia's Finnish neighbors, private equity firm Permira, reportedly in talks to buy the luxury phone badge for about €200 million ($264.9 million). A competing equity group, EQT, had discussed the idea at one point but would have stalled.