Banking on
A private equity firm purchases a majority interest in The Generations Network.

A private equity firm has purchased a majority interest in The Generations Network (TGN), parent company of Ancestry. com < >, DNA Ancestry <>, Family Tree Maker software <>, Roots Web <> and other products.

Spectrum Equity Investors was already a partial stakeholder in TGN when it agreed to pay $300 million for a majority interest. Two Spectrum managing partners will join TGN president and CEO Tim Sullivan on the new board of directors. Other terms of the purchase weren't disclosed.