TTAM Research Institute, founded by Anne Wojcicki, intends to acquire 23andMe for $305 million. The company faced bankruptcy after a significant data breach compromised approximately 14,000 accounts, impacting data of around 7 million users. Regulatory penalties followed, including a £2.31 million fine from the UK's Information Commissioner's Office. Existing customers were notified about the acquisition, with reassurances regarding data security. The breach also resulted in settlements from lawsuits, claiming negligence on part of the customers in securing their accounts.
TTAM Research Institute, founded by 23andMe's co-founder Anne Wojcicki, has submitted a $305 million bid to acquire 23andMe, which filed for Chapter 11 bankruptcy in early 2023.
A breach in late 2023 compromised around 14,000 accounts but affected the data of nearly 7 million users due to the DNA-sharing feature of the platform.
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