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Shutterfly adds PPE products, donates $750,000 to COVID-19 affected communities New Products News Updates 

Shutterfly adds PPE products, donates $750,000 to COVID-19 affected communities

Shutterfly Inc. announced the company, via its Shutterfly for Good platform, has donated more than $750,000 to organizations nationwide that are helping communities most in need during the COVID-19 pandemic. Shutterfly has donated $495,000 to multiple organizations such as those supporting the manufacturing and distribution of personal protective equipment (PPE), food-related charities, healthcare and more via its partnership with The... Read More
Shutterfly trims 160 jobs, will transfer some to Minnesota News Opinion 

Shutterfly trims 160 jobs, will transfer some to Minnesota

Newly privately held photo personalization giant Shutterfly Inc. is already trimming the ranks, according to media reports. The San Francisco Chronicle reports the company is laying off more than 150 employees from its Redwood City headquarters, according to a California Employment Development Department filing. According to the report, 66 employees will lose their jobs and 87 workers will see their... Read More
Apollo completes Snapfish acquisition, combines with Shutterfly Acquisitions News 

Apollo completes Snapfish acquisition, combines with Shutterfly

Apollo Global Management Inc. announced the successful completion of their previously announced acquisition of Snapfish, LLC and the combination of Snapfish with Shutterfly Inc., which was acquired by the Apollo Funds Sept. 25, 2019. According to the announcement, Snapfish owners became significant minority owners in the combined Shutterfly and Snapfish business. “As a business dedicated to connecting people, places and... Read More
CEWE to supply photo products to U.K. drug chain Boots in 2020 News 

CEWE to supply photo products to U.K. drug chain Boots in 2020

Oldenburg’s CEWE Foundation & Co. KGaA will provide its full range of photo services to Boots, the largest British and Irish drugstore chain. Under the heading “Bootsphoto powered by CEWE“, customers will be able to order CEWE products both on the Boots website and in more than 1,000 branches, the announcement said, adding around 2,500 CEWE photo stations and product... Read More
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
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
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
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
Analysis: It’s probably a good time to take Shutterfly private News Opinion 

Analysis: It’s probably a good time to take Shutterfly private

Editor’s Note: The following article is analysis and is not based on inside knowledge of Shutterfly, Lifetouch or any other parties mentioned. The specter of going photo personalization pioneer Shutterfly going private has lurked for the past five years or more, so the news the company board is again revisiting the issue isn’t a surprise. In 2014, Silver Lake Partners... Read More
Snapfish successfully completes cash tender offer for shares of CafePress News Press releases 

Snapfish successfully completes cash tender offer for shares of CafePress

SAN FRANCISCO, Calif. and LOUISVILLE, Ky., Nov. 09, 2018 (GLOBE NEWSWIRE) — Snapfish, LLC (“Snapfish”), premier personalized photo service, today announced that its wholly-owned subsidiary, Snapfish Merger Sub, Inc. (“Purchaser”), successfully completed its tender offer for all the outstanding shares of common stock (“Shares”) of CafePress Inc. (NASDAQ: PRSS) (“CafePress” or the “Company”) at a price of $1.48 per share,... Read More
Class action suit filed claiming CafePress/Snapfish merger violates securities laws News Opinion 

Class action suit filed claiming CafePress/Snapfish merger violates securities laws

What should have been a pretty routine $25.3 million acquisition of CafePress by Snapfish has hit snag. A shareholder, Stephan Bushansky, has filed a class action suit naming CafePress the  company and the management team as defendants. Bushansky’s suit cites several SEC violations, adding combination “will unlawfully divest CafePress’ public stockholders of the Company’s valuable assets without fully disclosing all material information concerning... Read More
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