Ancestry.com, the online family history resource, is said to be in the process of being acquired by an investor group led by European private-equity firm Permira, for $1.6 billion or $32 a share.  The acquisition is said to be a part of a western European expansion, as the buyer sees that family-history research is not just a niche market–it can swell with technological innovations, deeper archives and a wider international audience.

The for-profit genealogy firm was founded in 1983 and was previously called  The Generations Network.  Ancestry.com operates a network of genealogical and historical record websites focused on the U.S. and nine foreign countries, develops and markets genealogical software, and offers a wide array of genealogical related services.  As of June 2012, the company provided access to more than 10 billion records, 38 million family trees, and 2 million paying subscribers.

The buying group also includes Permira’s co-investors; members of Ancestry.com’s management, including Chief Executive Tim Sullivan and Chief Financial Officer Howard Hochhauser; and Spectrum Equity, which owns about 30% of Ancestry.com.

The acquisition is not entirely surprising since Ancestry.com bulked up their offerings with acquisitions.  Earlier this year, Ancestor.com announced the completion of the acquisition of  Archives.com for about $100 million back in August which they announced in April.and earlier this month, they acquired 1000memories, a San Francisco-based startup that helps users digitize old family photos.

The interest in finding out where you came from or where your family came from is attributed to the popularity of sites such as Ancestry.com and the show Ancestry.com’s television show “Who Do You Think You Are?” on NBC, though the network has declined to renew the deal, stating that they’re looking for celebrities who want trace their lineage.

Now, even travellers are taking a detour in their vacation trips or they plan their trips based on where their ancestors originated.  Genealogy is said to be the fastest growing hobby in North America with travel agents spending time to customize trips according to a person or family’s lineage who are hoping to track down relatives or learn more about their family.