Over the weekend another acquisition took place as Shutterfly acquired Tiny Pictures for $2.6 Million. The acquisition involved $1.3 Million in cash and $1.3 Million in restricted stocks. The restricted stock is associated to employees. The deal is pretty good for Shutterfly, primarily because it has acquired Tiny Pictures, which had raised $11.2 Million. Plus Tiny Pictures would add to its mobile sharing platform to Shutterfly, expanding its own mobile services. Apart from that Nancy J.Schoendorf managing partner at Mohr Davidow will take seat as a board member for both firms.
2.6 ??? I thought it was $1million
Iris
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