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Shutterfly (SFLY, $50.25) to be acquired by private equity firm Apollo Global Management (APO, $32.84), at a value of $2.7 billion
Digital image publishing company Shutterfly has agreed to get acquired by private equity firm Apollo Global Management.
In a deal valuing Shutterfly at $2.7 billion, Apollo will use cash to buy all outstanding shares at $51 per share – which represents a 1.5% premium to Shutterfly’s closing price on Monday.
Last month, Shutterfly reported a loss of $2.44 a share on revenue of $324.7 million for the first quarter, thereby surpassing analysts’ expectations. The company predicted that its earnings would range between 61 cents and $1.11 a share for the full year, compared to analysts’ projection of 71 cents a share on revenue of $2.17 billion for year.
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General Information
a provider of on-line film and photo retail services
Industry MiscellaneousCommercialServices
Profile
Fundamentals
Details
Industry
Miscellaneous Commercial Services
Address
2800 Bridge Parkway
Phone
+1.650.610.5200
Employees
1934
Web
http://www.shutterfly.com
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