Redwood City, Calif. -- Shutterfly, the Redwood City-based photo sharing site, said on Wednesday it will pay $23.8 million to acquire assets of the Kodak Gallery online photo services business. The company was the lone bidder in a bankruptcy auction for the assets, and said it will work with Kodak to transfer customers and images onto its platform. "Our acquisition… a perfect example of the consolidation that we believe will play an important role in helping Shutterfly solidify our leadership position in the social expression and personal publishing category," said Jeffrey Housenbold, the company's president and CEO.
http://www.shutterfly.com
http://ir.shutterfly.com/releasedetail.cfm?ReleaseID=667215
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