Shutterfly Buys MyPublisher
Berenson & Company acted as exclusive financial advisor to MyPublisher
PRESS RELEASE Shutterfly, Inc. (NASDAQ:SFLY), the leading manufacturer and digital retailer of high-quality personalized products and services, announced today that it has acquired MyPublisher, one of the pioneers in the photo book industry and creator of easy-to-use photo book-making software. The acquisition will combine MyPublisher’s photo book technology and highly specialized manufacturing capabilities with the Shutterfly platform to deliver a superior customer experience.
“Shutterfly photo books continue to delight customers, bringing more consumers online to tell their stories and connect with friends and family in creative ways”
“Shutterfly photo books continue to delight customers, bringing more consumers online to tell their stories and connect with friends and family in creative ways,” said Jeffrey Housenbold, president and CEO of Shutterfly. “By combining MyPublisher’s best in class software client with Shutterfly’s industry leading cloud based platform, we will continue to drive growth and set the standard for design, choice and quality in the personal publishing and social expression category.”
“Shutterfly and MyPublisher share a common vision of enabling customers to create premium products that share their most precious memories,” said Carl Navarre, founder and CEO of MyPublisher. “Together, our teams will chart the course for the next generation of photo book creation, while enabling our customers to take advantage of Shutterfly’s industry-leading solutions for other personalized products.”
Financial terms of the transaction have not been disclosed. Shutterfly will discuss this transaction as part of its Q1 2013 financial results conference call on May 1, 2013 at 2:00 PM PT (5:00 PM ET).
Notice Regarding Forward-Looking Statements
This press release includes certain forward-looking statements related to Shutterfly, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. These statements are based on management’s current estimates, assumptions, expectations or beliefs and are subject to uncertainty and changes in circumstances. These forward-looking statements are estimates reflecting the judgment of our senior management and actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of Shutterfly, Inc. For a list and description of risks and uncertainties which may cause actual results to vary from forward-looking statements, see our periodic filings with the Securities and Exchange Commission at www.sec.gov. All of Shutterfly’s forward-looking statements, whether written or oral, are expressly qualified by this safe harbor statement and any other cautionary statements that may accompany such forward-looking statements. Shutterfly is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.