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WSJ: Banks struggling to sell $2 billion debt for Apollo purchase of Shutterfly News Opinion 

WSJ: Banks struggling to sell $2 billion debt for Apollo purchase of Shutterfly

The Wall Street Journal is reporting Barclays PLC, Citigroup Inc. and other investment banks hired by Apollo Global Management have struggled in recent days to raise about $2 billion of debt for the buyout of Shutterfly Inc. Due to the tepid reception to the debt, the banks agreed to buy up to $280 million after failing to find enough outside investors,... Read More
Shutterfly sale closes for $2.7 billion Acquisitions News Press releases 

Shutterfly sale closes for $2.7 billion

Shutterfly, Inc. stockholders receive $51.00 per share in cash in a transaction with an enterprise value of $2.7 billion REDWOOD CITY, Calif.–(BUSINESS WIRE)–Shutterfly, Inc., a leading retailer and manufacturing platform dedicated to helping capture, preserve, and share life’s important moments, and affiliates of certain funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (together with its consolidated... Read More
App updates, rumors, financial news for the week of Aug. 30 News People on the Move Tips and tricks 

App updates, rumors, financial news for the week of Aug. 30

New apps and updates Shutterfly app updates adds printing to retail 64BitApps releases Image Plus v.1.3 for macOS Nikon Z Series adds dedicated 3D LUT for N-Log Google Photos adds OCR recognition to iOS and Android apps, via BGR Rumours and items from around the internet ‘Polaroid’ film: A Near Deal With Netflix Becomes a Legal Horror, via Hollywood Reporter Long-lost family photo album finds its way back... Read More
More changes at the top for SFLY: CTO Satish Menon resigns News People on the Move 

More changes at the top for SFLY: CTO Satish Menon resigns

When Shutterfly Inc. goes under new ownership this fall, there will be a whole new look to the executive suite. According to the company’s most recent Form 8-K, longtime CTO and senior vice president Dr. Satish Menon notified the company Aug. 8 of his intention to resign effective Sept. 6, 2019. The filing stated Dr. Menon will stay on as... Read More
Shutterfly Announces Second Quarter 2019 Financial Results Earnings reports Opinion Press releases 

Shutterfly Announces Second Quarter 2019 Financial Results

Shutterfly announced second-quarter financial highlights, for the period ending June 30. (To read the entire press release, click here.) The company, which entered into an agreement in June to be acquired by Apollo Global Management in a deal expected to be concluded early in the fourth quarter. Shutterfly reported net revenue of $473 million, with an operating loss of $7.9... Read More
Should shareholders vote for Shutterfly sale? Analyst says yes, with reservations News Opinion 

Should shareholders vote for Shutterfly sale? Analyst says yes, with reservations

While most industry watchers have acquiesced that the acquisition of Shutterfly by Apollo Global Management, with the corresponding merger with Snapfish, is a done deal, there are still some steps to be completed by the expected close by the end of the year. First, the merger is subject to government scrutiny under the Hart-Scott-Rodino Act, designed to maintain competition. As... Read More
DOJ files suit to block Quad purchase of LSC Communications Feature News Opinion 

DOJ files suit to block Quad purchase of LSC Communications

The U.S. Department of Justice (DOJ) Antitrust Division, filed a civil antitrust lawsuit in the U.S. District Court for the Northern District of Illinois June 20 seeking to block printing giant Quad/Graphics Inc.’s proposed $1.4 billion acquisition of competitor LSC Communications. The all-stock transaction was announced on Oct. 31, 2018, and was approved Feb. 22, 2019, by shareholders of both companies. Either... Read More
Apps, rumors and financial news for the week of June 14 New Products People on the Move Updates 

Apps, rumors and financial news for the week of June 14

New apps and updates Sigma issues product advisory for its 60-600mm F4.5-6.3 and 70-200mm F2.8 Sports lenses, via DPReview Photo organizing device maker Monument released Monument 2.0, offering improved facial recognition, enhanced scene recognition, shared albums and more. Skylum has updated photo editing and organizing software Luminar 3 to 3.1.1 with a bevy of speed improvements and improved navigation. Capture One launches Capture One Studio Serif Software has updated Affinity... Read More
Analysis: Gauging the impact of the new Shutterfly-Snapfish merger deal Acquisitions Feature News Opinion 

Analysis: Gauging the impact of the new Shutterfly-Snapfish merger deal

The breaking news this week wasn’t that Apollo Global Management announced $2.7 billion all-cash deal to acquire Shutterfly Inc.; that had been telegraphed for some time. Shutterfly’s board had set up an exploratory committee to make this happen (although it wasn’t the first time). Nor was it the announcement the company found a new president and CEO in Ryan O’Hara,... Read More
Scodix launches multiple digital enhancement systems for Shutterfly News Press releases 

Scodix launches multiple digital enhancement systems for Shutterfly

SCODIX, ISRAEL — June 12, 2019 — Scodix, the world’s leading provider of digital enhancement solutions for the graphic arts industry, today announced that Shutterfly deployedScodix systems across a number of locations in the United States prior to the critical holiday peak in 2018. Scodix systems offer a broad range of beautiful and innovative personalization options, aligning with Shutterfly’s focus... Read More
Shutterfly names Ryan O’Hara president and chief executive officer People on the Move Press releases 

Shutterfly names Ryan O’Hara president and chief executive officer

REDWOOD CITY, Calif.–(BUSINESS WIRE)–Shutterfly, Inc. (NASDAQ:SFLY), the leading retailer and manufacturing platform dedicated to helping capture, preserve, and share life’s important moments, today announced the appointment of Ryan O’Hara as President and Chief Executive Officer, effective June 24, 2019. When Ryan joins the company, he will simultaneously be appointed to serve as a director on the Shutterfly Board of Directors. Ryan... Read More
Apollo Global Management to acquire Shutterfly, Snapfish News Opinion 

Apollo Global Management to acquire Shutterfly, Snapfish

Funds Managed by Affiliates of Apollo Global Management Announce the Acquisition of Shutterfly, Inc. in an All-Cash Transaction Valued at $2.7 Billion Shutterfly, Inc. stockholders to receive $51.00 per share in cash in a transaction with an enterprise value of $2.7 billion Apollo Funds separately enter into a definitive agreement with Snapfish NEW YORK, June 10, 2019 (GLOBE NEWSWIRE) —... Read More
Rumor: Buyout firm Apollo Global in the lead to acquire Shutterfly News Opinion 

Rumor: Buyout firm Apollo Global in the lead to acquire Shutterfly

According to Reuters, private-equity firm Apollo Global Management LLC is in the lead to acquire Shutterfly Inc after making the highest offer, people familiar with the matter said on Monday. According to the article: “Apollo’s exact offer could not be learned, but the deal would value Shutterfly at close to $2 billion, excluding its debt pile of more than $900... Read More
New Robinson Report covers global photo printing trends Market research News Opinion 

New Robinson Report covers global photo printing trends

With support from the imaging industry, industry researcher Doug Robinson has produced a new global photo printing report, the 2018 Total Photo Printing Report, covering silver-halide color paper and the contributions from inkjet dry labs, dye-sub, and digital (electrophotographic) presses (EP). The work totals more than 140 pages and 29 tables and is the result of numerous interviews with knowledgeable... Read More
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