Tue, Apr. 21, 10:06 AM
- Looking to streamline ahead of its PC/printing spinoff, HP (HPQ -0.7%) is selling its Snapfish online photo-printing/storage unit to digital photo fulfillment services firm District Photo for an undisclosed sum. The deal is expected to close in the second half of FY15 (ends in October); Snapfish will continue using HP's printing hardware/software afterwards.
- HP bought Snapfish for over $300M in 2005. Reuters reported last September the IT giant was thinking of selling the unit; Bloomberg reported a month later P-E firms had decided to pass. Rival Shutterfly (SFLY -1.1%), also the subject of M&A rumors, is slightly lower today.
- Separately, HP has announced it's partnering with threat-prevention hardware/software/services leader FireEye (FEYE +3.5%) to deliver "a comprehensive suite of security remediation services underpinned by FireEye's advanced threat detection, intelligence, methodologies and incident response expertise."
- The joint offerings, which will be sold by HP's massive IT services arm, include a global incident response and compromise assessment services from HP and FireEye's Mandiant unit (hired by many firms to probe cyberattacks), and managed threat-protection services that "provide 24/7 security monitoring for indications that a cyber-attack has bypassed traditional technology defenses."
- News of the alliance comes a day after FireEye announced a partnership with firewall vendor/HP rival Check Point. FireEye's Q1 report arrives on April 30.
Oct. 14, 2014, 9:15 AM
Oct. 13, 2014, 9:15 AM
Oct. 10, 2014, 5:36 PM
Oct. 10, 2014, 5:13 PM
- Bloomberg reports P-E firm Silver Lake has shelved its plans to acquire Shutterfly (NASDAQ:SFLY) and H-P-owned (NYSE:HPQ) Snapfish, with the goal of combining the two photo-printing/sharing sites. Sources add the firm is open to resuming talks.
- Silver Lake was previously reported to be in talks to buy Shutterfly for over $50/share. H-P was reported last month to be exploring a Snapfish sale; it bought the site in '05 for $300M+.
- Last Sunday, re/code reported H-P tried selling several major business units before deciding to spin off its PC and printing ops.
- SFLY -6.6% AH to $43.85.
Sep. 22, 2014, 12:11 PM| Comment!
Aug. 20, 2014, 10:28 AM
- Bloomberg reports P-E firm Hellman & Friedman is among the P-E firms to have submitted offers for Shutterfly (SFLY +2.6%).
- The news service adds Shutterfly may be been valued at ~$2B in a sale, and that Bain has also expressed interest. However, tech/Internet companies have shown little interest.
- Shares have moved higher in response to Bloomberg's report. Shutterfly's market cap is currently right around $2B.
- Previous: The Deal reports Shutterfly has received buyout offers
Aug. 14, 2014, 1:44 PM
- The Deal reports Shutterfly (SFLY +2.2%) has received multiple buyout offers, and is closing in on an agreement.
- Shares have spiked higher after previously trading near breakeven. They're up 12% since Bloomberg reported in early July Shutterfly is looking for a buyer.
- dealReporter reported of buyout interest two weeks ago.
Jul. 30, 2014, 4:33 PM
Jul. 30, 2014, 11:46 AM
- Sources tell dealReporter Shutterfly (SFLY +3.1%) has drawn buyout interest as it continues looking for a suitor. Shares have spiked higher on the report.
- Bloomberg reported 4 weeks ago Shutterfly has hired Qatalyst Partners (headed by famed tech banker Frank Quattrone) to find a buyer.
- Q2 results are due this afternoon.
Jul. 2, 2014, 12:56 PM
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Jul. 2, 2014, 8:02 AM
- Shares of Shutterfly (SFLY) fly high in early trading with some chatter that the company is looking to sell itself driving momentum.
- There is talk that an upcoming Bloomberg scoop will indicate Shutterfly has hired Qatalyst to assist it in the sales process.
- SFLY +10.5% premarket
Mar. 18, 2014, 9:54 AM
- Sina (SINA -4.2%) has been cut to Hold by Maxim a day after taking off in response to Weibo's IPO filing.
- Informatica (INFA +2%) has been upgraded to Buy by CLSA.
- 21Vianet (VNET +8%) has been upgraded to Outperform by Credit Suisse.
- Marketo (MKTO +2.4%) has been upgraded to Neutral by UBS. The company is widely viewed as a buyout candidate following the acquisition of peers.
- Alliance Fiber (AFOP +8.3%) has been upgraded to Buy by B. Riley.
- Shutterfly (SFLY -5.9%) has been cut to Underperform by Cowen.
Mar. 18, 2014, 9:13 AM
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