Tuesday, April 3, 2018

Shutterfly Completes $825M Lifetouch Acquisition

Redwood CIty-based photo and personalized products provider Shutterfly said late Monday that it has closed on its acquisition of school photography company Lifetouch. Shutterfly paid $825M for Lifetouch. In conjunction with the acquisition deal, Shutterfly said it received an $825M incremental term loan facility, which closed simultaneously with the acquisition. Shutterfly said it expects the acquisition to result in approximately $935M in additional net revenues, and approximately $100M in Adjustedd EBITDA in the 12 months following the acquisition.