Redwood City, Calif.-based Shutterfly (NASDAQ:SFLY) has acquired photo bookmaking software producer MyPublisher.
Calling its new acquisition's software client "best in class," Shutterfly CEO Jeffrey Housenbold argued that in conjunction with Shutterfly's own cloud-based platform, the companies are ready to "set the standard for design, choice and quality in the personal publishing and social expression category."
Financial details of the purchase, including price and MyPublisher's state of profitability (or lack thereof) were not disclosed. However, Shutterfly will likely be asked about, and have to answer to, these facets of the acquisition at its post-earnings conference call scheduled for May 1 at 5 p.m.
For now, investors are taking the deal on faith and bidding up Shutterfly shares by 0.7% to a recent share price of $44.55.
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