Shutterfly To Acquire Lifetouch For $825 Mln - Quick Facts

(RTTNews) - Shutterfly (SFLY) and Lifetouch announced a definitive agreement for Shutterfly to acquire privately-held Lifetouch for $825 million in cash. Shutterfly, Inc. is an online retailer and manufacturer of personalized products and services.

Shutterfly noted that Lifetouch is the clear leader in school photography. Lifetouch photographs more than 25 million children annually during the cherished fall picture day tradition, serving more than 10 million households, including more than one million new kindergarten households annually, across more than 50,000 schools. In Lifetouch's fiscal year ended June 30, 2017, Lifetouch revenue was $963.9 million, and EBITDA was $111.3 million

Shutterfly expects the acquisition to result in approximately $935.0 million of additional Net revenues, and approximately $100.0 million of additional adjusted EBITDA, in the twelve-month period following closing of the acquisition. With the acquisition, the combined company targets a minimum of $450 million of adjusted EBITDA by 2020.