Photo gallery and printing service Shutterfly has now successfully acquired Kodak Gallery from Eastman Kodak as the latter sells off assets as part of its restructuring. Shutterfly made an early “stalking horse” bid of $23.8 million on the service, which has some 75 million users, but no other offers emerged. .
Shutterfly reported 5.3 million visitors (an all-time high for Shutterfly) in March, along with another million or so for its Tiny Prints acquisition.
Shutterfly will gain world-wide reach of users with this deal. Shutterfly is an almost exclusively US-based service currentlyThe company posted increased revenues of $473 million in 2011, but saw its net income fall to $14 million, according to The Wall Street Journal.
Members of Kodak Gallery will be transferred to Shutterfly accounts The Kodak Gallery has posted a FAQ that answers customers’ most common questions about how the transition to Shutterfly will affect them and their photo galleries.
