Social media and personal publishing company Shutterfly (NASDAQ:SFLY) said on Monday it will purchase ThisLife, an online photo- and video-sharing start-up.
Under the deal, ThisLife co-founders Andrea Johnson and Matt Johnson will become part of Shutterfly’s team, Forbes noted.
Terms of the acquisition were not disclosed, but ThisLife obtained $2.75 million in seed financing in June of last year.
In a statement, Shutterfly said acquiring ThisLife would bolster its storage and sharing offerings for digital products. Shares of Shutterfly slipped fractionally in Monday afternoon trading.
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