Apollo Global completed the acquisition of Shutterfly for $2.7bn.

Apollo Global Management, alternative investment manager, completed the acquisition of Shutterfly, a retailer and manufacturing platform dedicated to helping capture, preserve, and share life’s important moments, for $2.7bn. The $51 per share cash offer represents a premium of 31% when compared to Shutterfly’s unaffected closing stock price of $38.91 on April 23, 2019. “We are extremely excited for our funds to acquire Shutterfly. At a time when billions of photos are taken every day, Shutterfly has led the charge as a pioneer of personalized photo products and school photography, helping consumers capture, preserve and share life’s most important moments. We look forward to working with Shutterfly’s talented employees and supporting further investments in technology to drive the continued growth and success of the business,” David Sambur, Apollo Senior Partner.