Apollo Global Management Acquires Shutterfly, for $2.7 Billion
Summary
Funds managed by affiliates of Apollo Global Management (NYSE: APO), a global alternative investment manager, today are acquiring the outstanding shares of Shutterfly, Inc. (NASDAQ: SFLY), a retailer and manufacturing platform for personalized products and communications, for $51.00 per share in cash, or enterprise value of approximately $2.7 billion. Upon completion, Shutterfly will become a privately held company, and its shares will no longer be listed on the NASDAQ Global Select Market. Shutterfly also announced the appointment of Ryan O’Hara as President and Chief Executive Officer, effective June 24, 2019. Founded in 1999, Shutterfly is a retailer and manufacturing platform for personalized products and communications. Shutterfly Business Solutions delivers digital printing services that enable customer engagement through personalized communications.