In an announcement calling the recent move as 'best in class', Shutterfly CEO Jeffrey Housenbold said that when MyPublisher is used with Shutterfly's cloud based system, the platform would 'set the standard for design, choice and quality in the personal publishing and social expression category.'
There were no disclosures on the terms of the acquisition, such as price and profitability of MyPublisher. Despite the lack of information, many investors have taken the deal as share prices for Shutterfly increased by 0.7% to the recent US$44.55.
MyPublisher enables users to create their own photobooks. The site was launched back in 1994 and is based out of New York City.
According to Carl Navarre, founder and CEO of MyPublisher, "Shutterfly and MyPublisher share a common vision of enabling customers to create premium products that share their most precious memories,. Together, our teams will chart the course for the next generation of photo book creation, while enabling our customers to take advantage of Shutterfly's industry-leading solutions for other personalized products."
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