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M&A Deal Summary

Shutterfly Acquires Tiny Prints

On April 25, 2011, Shutterfly acquired internet software and services company Tiny Prints from Summit Partners and TCV for 141M USD

Acquisition Highlights
  • This is Shutterfly’s 1st transaction in the Internet Software and Services sector.
  • This is Shutterfly’s 2nd largest (disclosed) transaction.
  • This is Shutterfly’s 1st transaction in the United States.
  • This is Shutterfly’s 1st transaction in California.

M&A Deal Summary
Date 2011-04-25
Target Tiny Prints
Sector Internet Software and Services
Buyer(s) Shutterfly
Sellers(s) Summit Partners
TCV
Deal Type Add-on Acquisition
Deal Value 141M USD

Target

Tiny Prints

Sunnyvale, California, United States
Tiny Prints, Inc. is a web-based company comprised of two brands offering premium, personalized, social stationery, Tiny Prints and Wedding Paper Divas. Tiny Prints and Wedding Paper Divas provide simple, modern and unique stationery from birth announcements to baby shower and wedding and party invitations to thank you cards and holiday photo cards.

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Buyer(S) 1

Buyer

Shutterfly

Redwood City, California, United States
Category Company
Founded 1999
Sector Internet Software and Services
Employees2,016
Revenue 2.0B USD (2018)
DESCRIPTION
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.

DEAL STATS #
Overall 1 of 10
Sector: Internet Software and Services M&A 1 of 4
Type: Add-on Acquisition M&A Deals 1 of 9
State: California M&A 1 of 4
Country: United States M&A 1 of 10
Year: 2011 M&A 1 of 2
Size (of disclosed) 2 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-27 Photoworks

Cleveland, Ohio, United States

Photoworks Inc. operates as an online personal publishing company.

Buy -

Seller(S) 2

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1984
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 155 of 298
Sector: Internet Software and Services M&A 8 of 31
Type: Add-on Acquisition M&A Deals 72 of 134
State: California M&A 45 of 64
Country: United States M&A 148 of 258
Year: 2011 M&A 3 of 5
Size (of disclosed) 41 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-18 Crosman

Bloomfield, New York, United States

Crosman Corp. is a manufacturer of airguns and accessories. Crosman offers a complete line of airguns, paintball guns, slingshots, targets, and other accessories under the brand names of Crosman, Benjamin, Sheridan, and Copperhead. Crosman was established in 1923 and is based in Bloomfield, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-26 Bigpoint

Hamburg, Germany

Bigpoint GmbH is a publisher and developer of online games. Bigpoint.com is a gaming portal that offers a wide variety of high-quality online games.

Buy $350M
SELLER

TCV

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 21.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Technology Crossover Ventures (TCV) is a private equity and venture capital firm focused on investments in growth technology companies. TCV looks to provide capital for growth, recapitalizations, acquisitions, and buyouts of technology companies in sectors such as internet, financial technology, infrastructure & communications, and software. TCV targets opportunities in North America and looks to commit between $10 and $500 million of equity capital per transaction. TCV was formed in 1995 and is based in Palo Alto, New York City, and London.

DEAL STATS #
Overall 42 of 84
Sector: Internet Software and Services M&A 5 of 21
Type: Add-on Acquisition M&A Deals 24 of 43
State: California M&A 22 of 30
Country: United States M&A 39 of 73
Year: 2011 M&A 3 of 11
Size (of disclosed) 20 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-15 Stride

Reston, Virginia, United States

Stride is a provider of proprietary, technology-based curriculum and online education programs to students in grades K-12. K12 provides its curriculum and academic services to online schools, traditional classrooms, blended school programs, and directly to families. Stride was founded in 1999 and is headquartered in Reston, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-04 Renren

Beijing, China

Renren, Inc. (Formerly Oak Pacific Interactive Corp.) is an online and wireless Chinese social network and rich media community. Renren was founded in 2002 and is based in Beijing, China.

Sell -
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