According to 23andMe, any buyer of the company will have to abide by laws that apply to how customer's data is treated, and any transaction will be subject to customary regulatory approvals.
Customers who previously asked 23andMe to store a DNA sample can ask that it be destroyed.
For users who opted into 23andMe's research programme, personal information will no longer be used in future research projects, the company said.
23andMe's said it would continue to protect customer data as laid out in its privacy policy.
But it acknowledged that if it was "involved in a bankruptcy, merger, acquisition, reorganization, or sale of assets, your Personal Information may be accessed, sold or transferred as part of that transaction."
It says its privacy statement will apply to personal information when transferred to the new entity.
"A new company would have to continue to manage customer data under the privacy policy," said Anya Prince, a professor at the University of Iowa College of Law.
But, Prince notes, the company also says it "may make changes" to its privacy statement "from time to time," leaving the door open to a new company altering how it manages customer data.