TweakTown
Tech content trusted by users in North America and around the world
5,668 Reviews & Articles | 36,029 News Posts

Kodak sell online photo gallery to Shutterfly, snaps up $23.8 million

Kodak agree to sell online photo gallery for $23.8 million, Shutterfly receives it with open arms

| Business, Financial & Legal News | Posted: Mar 5, 2012 3:29 am

Kodak have just recently entered into an agreement with Shutterfly, where they'll sell their online photo sharing service to them for $23.8 million. The deal includes Kodak transferring more than 75 million Gallery customer accounts and associated images in the US and Canada, on top of Kodak overseeing the deal to ensure a smooth transition.

 

TweakTown image news/2/2/22861_04_kodak_sell_online_photo_gallery_to_shutterfly_snaps_up_23_8_million.jpg

 

Kodak Gallery is similar to Shutterfly, where it manages online photo galleries and allows customers to print photo books and stationary. When the sale is fully complete, Kodak customers that do not wish to have their photos and personal data handed over to Shutterfly do have options. They can opt to download all of their saved content, or have Kodak make their data available for purchase via DVD.

 

The deal is not 100-percent yet, as Shutterfly have entered into a stalking horse bid with Kodak for the online gallery. A stalking horse agreement, has the debtor (Kodak) essentially testing the market in advance of an auction to maximize the value of an asset. This allows other companies to submit competing bids for Kodak Gallery before the company seeks Bankruptcy Court approval for sale and auction by late-March.

NEWS SOURCE
Techspot.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

Latest Downloads

View More Latest Downloads

TweakTown Web Poll

Question: Did EA kill the Battlefield franchise with the terrible BF4 issues?

Yes, Battlefield is doomed

No, Battlefield will live on strong

I'm not sure, but I know EA needs to improve its game

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Get TweakTown updates via Facebook!
Just click the "Like" button below