Online Retailer Shutterfly Is Buying Eden Prairie-Based Lifetouch For $825M

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By Neal St. Anthony, Star Tribune

“California-based Shutterfly, the big online retailer and manufacturer of personalized photography and related products and services, plans to pay $825 million in c
ash to buy Eden Prairie-based Lifetouch, an employee-owned company and a leader in school photography.

“We’re focused on growing both these businesses,” Shutterfly CEO Chris North said in a visit to Eden Prairie Tuesday. “We’re just now bringing the two teams together. We’re going to bring Shutterfly products to Lifetouch, as well as our cloud-based management system.”

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Comments

  • LakeLevel The

    The offer is way too low. Lifetouch was valued by an independent auditor at $970 million last June. In the mean time, the stock market has gone up 25%. Michael Meek is incompetent to even entertain such an offer. Haven’t Lifetouch’s employee owners suffered enough Mr. Meek? Last year your incompetence lowered the stock value by 38% and now another 15%?

    • http://twitter.com/casey__allen Casey Allen

      I’m curious, are you an employee? If so what does this look like financially for employees?

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