Shutterfly Buys MyPublisher
Redwood City, Calif.-based Shutterfly has acquired photo bookmaking software producer MyPublisher.
Calling its new acquisition's software client "best in class," Shutterfly CEO Jeffrey Housenbold argued that in conjunction with Shutterfly's own cloud-based platform, the companies are ready to "set the standard for design, choice and quality in the personal publishing and social expression category."
Financial details of the purchase, including price and MyPublisher's state of profitability (or lack thereof) were not disclosed. However, Shutterfly will likely be asked about, and have to answer to, these facets of the acquisition at its post-earnings conference call scheduled for May 1 at 5 p.m.
For now, investors are taking the deal on faith and bidding up Shutterfly shares by 0.7% to a recent share price of $44.55.
The article Shutterfly Buys MyPublisher originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.