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Monday, March 21, 2011

Shutterfly to pay $333 million for cards designer Tiny Prints

Shutterfly said it agreed to buy privately held card design company Tiny Prints in a $333 million cash-and-stock deal, as the photo-sharing service tries to win back customers in a market increasingly dominated by social networking sites like Facebook. Shutterfly said it would acquire all of the outstanding stock of Tiny Prints Inc in exchange for about $141 million in cash and about 3.9 million shares of Shutterfly common stock. Sunnyvale, California-based Tiny Prints operates tinyprints.com and weddingpaperdivas.com, two ecommerce brands offering cards, invitations, personalized stationery and photo books.

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