Shutterfly acquires cloud-based ThisLife

Shutterfly acquires cloud-based photo and video company ThisLife, terms not disclosed

Associated Press

REDWOOD CITY, Calif. (AP) -- Photo service company Shutterfly Inc. said Monday that it has acquired ThisLife, a company that provides cloud-based photo and video organization, storing and sharing services.

Shutterfly said the deal will bring together the best of ThisLife's cloud organization with Shutterfly's creation services.

The company, based in Redwood City, Calif., has acquired a number of other businesses lately as it tries to adapt to customer's changing digital photo needs. Last year, it bought Israeli photo software company Photoccino and was the winning bidder for Eastman Kodak Co.'s online unit.

Shutterfly did not disclose the financial terms of the latest deal. The company said it will share additional details about the acquisition on its fourth-quarter earnings call, the date for which has not been set.

Shutterfly, founded in 1999, which lets people store, print and share photos on the Internet. Besides its namesake website, it also runs TinyPrints.com, WeddingPaperDivas.com and Treat.com.

Shutterfly shares added 4 cents to $32.12 in afternoon trading. Its shares remain at the higher end of its 52-week trading range of $21.34 to $35.

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