American private equity firm, Apollo Global Management LLC (AGM), has agreed to acquire photo printing platforms Shutterfly and Snapfish. According to Reuters, AGM is set to purchase Shutterfly Inc for $2.7 billion, including $900 million in debt. AGM also announced intentions to purchase Snapfish LLC, another Internet-based retailer of photography products. And, apparently, they plan to merge them together.[Read More…]
California-based online personalised photography product retailer, Shutterfly, is set to buy US photography company, Lifetouch. In a deal paying $825 million in cash, the focus is on growing both of the businesses, according to Shutterfly CEO, Chris North. It will allow Shutterfly to reach a new audience while allowing Lifetouch to offer more products to its customers.