The acquisition comes shortly after search engine Yahoo! purchased Canadian company Ludicorp and its online photo-sharing site Flickr in a similar move to capitalize on the industry and compete better against rival Google, which owns photo-sharing company Picasa.
Snapfish’s online photo services include editing tools and software, photo sharing, online print ordering, wireless imaging services for camera phone and handset users and personalized photo products. The company currently has over 13 million registered users.
It has been reported that the computer giant will exploit the purchase to extend its digital photo product offerings beyond the home, where it has previously focused its energies through its digital cameras, printers, scanners and ink supplies.
Bringing Snapfish into HP’s digital photography portfolio is a strategic move for both companies, said Larry Lesley, senior vice president, Consumer Imaging and Printing, HP. By offering a superior online photo service through Snapfish, we will be able to offer the home photographer greater choice when deciding exactly how, when and where they share, store and print their photos.
The acquisition is expected to close in April 2005.
