Shutterfly to Acquire Kodak Gallery for $23.8 Million
Posted on April 25, 2012
Shutterfly
Following final approval by the bankruptcy court, the parties will contemplate promptly closing the acquisition. Following the closing, Shutterfly will work with Kodak to transfer Kodak Gallery's U.S. and Canadian customers and images onto the Shutterfly platform. Both services offer online photo printing, greeting cards, photo books and photo gifts. The desk organizer pictured on the right is one of many photo products offered by Shutterfly.
Jeffrey Housenbold, Shutterfly's president and chief executive officer, says, "I'm excited to welcome Kodak Gallery's customers to Shutterfly and look forward to working with the Kodak team to provide a smooth transition for their customers and offering them industry-leading products and customer service that will enhance the way they share and preserve everyday memories."
The Wall Street Journal reports that Shutterfly is getting Kodak Gallery for a steal because Kodak had to file for bankruptcy. Shutterfly will get 75 million members from the Kodak acquisition. Take a look: