Apollo Global Management is nearing deals to buy online photo companies Shutterfly and Snapfish and plans to combine the firms
Apollo Global Management LLC is nearing deals to buy Shutterfly Inc. and Snapfish, which the private-equity giant plans to combine to create a big player in online-photo services.
The deal for Shutterfly values the photo-book manufacturer and retailer at $51 a share, or about $1.7 billion, people familiar with the matter said. The purchase of Snapfish, which like parent District Photo Inc. is closely held, would be contingent on the Shutterfly acquisition closing, one of the people said. District Photo would end up with a...
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