Monday, July 12, 2010

HP's Snapfish Buys Motionbox

HP's Snapfish has acquired Motionbox, a New York developer of an online digital video and photo sharing site. Financial terms of the deal were not disclosed. According to Motionbox, it will be shutting down its website on August 10th, and that videos currently hosted on the site will not be available after that date. Motionbox said that HP is acquiring its technology platform, but did not indicate if the deal included the firm's employees. Motionbox had been backed by Canaan Partners, Constellation Ventures, ITOCHU Corp., and SAS Investors.