Shutterfly (NASDAQ:SFLY) has a new asset in its portfolio. The company announced that it acquired R&R Images, a privately held enterprise it describes as "a boutique, high variability printer focused on premium stationery printing and product design." The price of the deal was not disclosed.
It will likely not be the last acquisition for Shutterfly. In the press release heralding the news, the firm quoted its CEO Jeffrey Housenbold as saying that currently, "We are making additional strategic investments in our manufacturing footprint focused on providing our customers with innovative, high-quality personalized products while efficiently scaling and managing our costs."
Shutterfly said the R&R Images acquisition will have a marginal impact on its revenue at first, but will serve to "enhance" its offerings.