Shutterfly Inc considering acquisitions as it aims to stay independent

Shutterfly Inc considering acquisitions as it aims to stay independent

Shutterfly Inc is one of the most popular online photo sharing service provider. The company has said that they are going to stay independent in the near future.

In fact the company is considering acquiring companies to continue their growth in this segment of the internet market.

Chief Executive Jeffrey Housenbold said in a statement: “We are poised to go out and be the logical consolidator in this industry should interesting assets be available.”

They are considering potential takeover targets like greeting card companies and stationary makers.

Housenbold further stated that the company has $100 million in cash and they have no debt. He added that their expected market capitalization is around $600 million to $700 million.

Housenbold added: “Where we are also playing is in the greeting card industry, dominated by Hallmark and American Greetings, which haven’t innovated in 100 years, and the scrapbooking industry, a $3.1 billion industry. We are looking at assets across the Internet that help people express themselves and self-publish.”

Checkout: Shutterfly