Shutterfly Signs Agreement to Acquire Spoonflower

Shutterfly announced an agreement to acquire Spoonflower, a global marketplace connecting makers and consumers with artists worldwide, in an accretive acquisition for approximately $225 million of enterprise value subject to certain working capital and other adjustments. The acquisition will enable Shutterfly to more broadly serve the fast-growing home decor marketplace by adding Spoonflower wallpaper, fabric, linens, bedding, and other home decor soft goods to its product assortment and connecting Shutterfly’s 21 million active users to Spoonflower’s artists and design community. The acquisition, which is subject to regulatory approvals and customary closing conditions, is expected to close in the third quarter of 2021.