Photo Corners

A   S C R A P B O O K   O F   S O L U T I O N S   F O R   T H E   P H O T O G R A P H E R

Enhancing the enjoyment of taking pictures with news that matters, features that entertain and images that delight. Published frequently.

Private Equity Firm to Acquire Shutterfly, Snapfish Share This on LinkedIn   Tweet This   Forward This

12 June 2019

Reuters is reporting that Apollo Global Management LLC has announced an agreement to acquire Shutterfly Inc. for $2.7 billion and Snapfish, which it intends to merge with Shutterfly.

The deal includes $900 million in Shutterfly debt.

Shutterfly's speciality of photo cooks, greeting cards and gifts "has become increasingly commoditized and competitive, forcing it to explore a sale," according to the story by Greg Roumeliotis. The company has been seeking a buyer since February.

Shutterfly Chief Executive Christopher North is expected to leave the company in August.

BackBack to Photo Corners