Redwood City, Calif. – Shutterfly, the operator of a digital
photo service, said on Monday it has completed its $367.9 million acquisition
of Tiny Prints, first announced in March.
Under the deal, Shutterfly paid
$146.5 million in cash and approximately 4.0 million shares of stock for Tiny
Prints, which operates tinyprints.com and weddingpaperdivas.com, both offering
cards, invitations, personalized stationery and photo books.
Tiny Prints
stockholders now own approximately 12% of the combined company.
Co-founders Ed
Han (CEO), Kelly Berger (chief innovation architect) and Laura Ching (chief
merchandising officer) will join Shutterfly, along with the rest of the
company’s staff.
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