M&A Deal Summary

Apollo Global Management Acquires Shutterfly

On June 10, 2019, asset manager Apollo Global Management acquired internet software and services company Shutterfly for 2.7B USD

Acquisition Highlights
  • This is Apollo Global Management’s 2nd transaction in the Internet Software and Services sector.
  • This is Apollo Global Management’s 19th largest (disclosed) transaction.
  • This is Apollo Global Management’s 65th transaction in the United States.
  • This is Apollo Global Management’s 8th transaction in California.

M&A Deal Summary
Date 2019-06-10
Target Shutterfly
Sector Internet Software and Services
Buyer(s) Apollo Global Management
Deal Type Going Private
Deal Value 2.7B USD
Advisor(s) Morgan Stanley (Financial)
Fenwick & West (Legal)

Target

Shutterfly

Redwood City, California, United States
Shutterfly's corporate headquarters in Redwood City, California.
Shutterfly's corporate headquarters in Redwood City, California.
Shutterfly is an Internet-based social expression and personal publishing service. Shutterfly provides products and services that make it easy for consumers to preserve their digital photos in a creative and thoughtful manner. Shutterfly was formed in 1999 and is based in Redwood City, California.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 89 of 140
Sector (Internet Software and Services) 2 of 4
Type (Going Private) 21 of 31
State (California) 8 of 16
Country (United States) 65 of 101
Year (2019) 7 of 11
Size (of disclosed) 19 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-25 Care Fertility

Nottingham, United Kingdom

Care Fertility is a fertility services provider. The company operates nine CARE branded clinics and 13 satellite facilities providing extensive coverage across the UK and the Republic of Ireland. Care Fertility was founded in 1997 and is based in Nottingham. United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 Graanul Invest

Tallinn, Estonia

Graanul Invest is a wood pellet producer for bioenergy and renewable energy production, forestry, and biomaterials industries. Graanul Invest is based in Tallinn, Estonia.

Buy -
Mergr

Product

Company

Legal